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, including 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, DFC 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 U.S. government.
The foreign minister said “Pakistan wants to make economic and investment cooperation as one of the key pillars of Pak.-U.S. relationship. DFC has an important role to play in this regard”.
He said that attracting investments in all sectors of Pakistan’s economy was the government’s top priority. He laid special emphasis on empowering women economically.
He identified agriculture, infrastructure, energyincluding renewable energy and tech sector including green technologies as priority areas.
He expressed the hope that DFC will consider tapping the tremendous investment opportunities in these sectors.
Nathan expressed solidarity with the people and the government of Pakistan in the wake of the devastating floods and assured continued US support in managing the crisis.
He reaffirmed DFC’s interest in collaborating with Pakistan’s private sector and assured continued engagement to identify projects ready forinvestment by US Corporate sector.
The foreign minister invited Scott Nathan to visit Pakistan, who accepted the invitation.