Washington: Finance Minister Senator Muhamamd Aurangzeb participated in the 13th Ministerial meeting of the Coalition of Finance Ministers for Climate Action (CFMCA) and delivered a statement on this occasion stating that country was developing Climate Prosperity Plan (CPP) and Climate Finance Strategy.

Finance minister briefing the meeting said that the 10-year Country Partnership Framework signed with the World Bank includes climate-focused pillars on resilience and decarbonization.

The finance minister informed that the country had reached a Staff Level Agreement on a new arrangement under Resilience and Sustainability Facility (RSF) to support long-term balance of payments stability in the face of climate change.

Finance Minister Muhammad Aurangzeb emphasized the importance of embedding climate into macroeconomic and financial policies. Finance Minister identified the challenges of building capacity in both public and private sectors and designing investable and bankable projects.