Pakistan will apply to the IMF for a loan package including climate funding.

According to insiders, the nation is looking at expanding the programme to $7.5-8 billion and is also looking to include climate financing in the upcoming bailout package.

We’ll look for climate money to increase the loan amount. The International Monetary Fund offers nations coping with pandemics and climate change accessible long-term finance.

Sources claim that the authorities are exploring ways to apply for climate money and raise the impending IMF bailout package to 7.5 to 8 billion dollars.

According to sources, the IMF Board of Governors decided to raise each country’s quota during its meeting in December of last year, and Pakistan would be affected by this decision as well. “Pakistan could borrow between $6 and $8 billion under this decision.”

According to reports, Pakistan is requesting special money from the IMF in the amount of $1.55 billion for climate finance, akin to what Bangladesh has done.

According to sources, Pakistan must first set aside funds for environmental improvement before applying for a loan from a foreign lending organisation.