FM stresses urgent steps for building climate disaster resilience, renewable energy solutions.

ISLAMABAD -- Foreign Minister Bilawal Bhutto Zardari has stressed the importance of leveraging private sector in building disaster resilience covering infrastructure development, renewable energy, livelihood and businesses for women, and rejuvenation of agriculture.

The foreign minister expressed these views in a meeting with Scott Nathan, Chief Executive Officer of Development Finance Corporation (DFC) in New York. The foreign minister said Pakistan would require huge investment in climate resilience.

He said mobilizing additional capital through institutions like DFC through coordinated efforts with other developmental finance institutions, is imperative to ensure that we adequately address the challenge of climate change.

The DFC has developed a Climate Action Plan whereby beginning 2023, it would allocate 33 % of its investments in climate related projects.

The foreign minister briefed Nathan on the devastating floods in Pakistan and the government of Pakistan's efforts to manage the crisis. He expressed gratitude for the flood relief assistance provided by the US government. The foreign minister said. 'Pakistan wants to make economic and investment cooperation as one of the key pillars of Pak-US relationship. DFC has...