ISLAMABAD: The Director of Communications at the International Monetary Fund (IMF), Julie Kozik, stated that Pakistan will receive $1.3 billion under climate financing.
Speaking at a press conference, Julie Kozik mentioned that discussions had taken place regarding the provision of separate funds for the Extended Fund Facility (EFF) program and climate financing with Pakistan.
The IMF Director said that the discussions on climate financing with Pakistan had been successful, and Pakistan will receive $1.3 billion under this initiative, which will be provided over 28 months.
Julie Kozik also mentioned that a 37-month Extended Fund Facility program had been finalized with Pakistan in September, under which Pakistan is to receive $7 billion in installments.
She further stated that a staff-level agreement for new installments was reached on March 25, and Pakistan successfully completed the first review meeting of the EFF program. After successful review negotiations, Pakistan will receive $1 billion.
It is worth noting that a staff-level agreement was reached between the IMF and Pakistan after the success of the recent review talks.
