Financial Agreement With The WorldBank On Punjab Climate
Financial Agreement With The WorldBank On Punjab Climate: For accelerating climate resilience development in Punjab, Pakistan has signed two financial agreements worth $400 million with the World Bank.
The two projects are aiming to improve the environment and quality of life in cities of Punjab. These include Punjab Cities Program ($200m) and Punjab Green Development Program ($200m).
Punjab Cities Program
An official statement issued said that Punjab Cities Program aims to strengthen the performance of participating urban local governments in urban management and service delivery.
- The Punjab Cities Program will strengthen urban local government’s ability to deliver green municipal infrastructure and services in 16 cities benefiting 4.1 million people.
- The program will also build systems to improve transparency, accountability, and responsiveness of the city governments.
- The program will support the operation implementing entity’s implementation of its Performance Based Grants (PBG) programme to selected 16 MCs for strengthening their institutional performance and the carrying out eligible infrastructure investments.
Punjab Green Development Program
The Punjab Green Development Program will strengthen the province’s environmental management through empowering its departments to provide better environmental services to citizens and the private sector, with a focus on strengthening the capacity of the Environment Protection Department.
It will help modernize laws and regulations and promote investments in cleaner technologies to reduce air and water pollution.
The objectives of the program are to strengthen environmental governance and promote green investments in the province.
Country Director Patchamuthu Illangovan signed the financing and programme/operation agreements on behalf of the World Bank.
Secretary Economic Affairs Division Syed Ghazanfar Abbas Jilani signed the financing agreements on behalf of the Government of Pakistan, while representatives of Punjab government signed their respective program/operation agreements.
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