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Pakistan secures IMF climate funding approval and launches its first green bond to address extreme weather.
Pakistan's Finance Minister, Muhammad Aurangzeb, announced positive feedback from the IMF regarding Pakistan's request for $1.5 billion in climate financing, aimed at tackling extreme weather events.
Additionally, Pakistan launched its first rupee-denominated green bond, the Parwaaz Green Action Bond, to fund environmentally sustainable projects.
Minister Aurangzeb highlighted the urgency of addressing climate change, noting issues like flooding and glacier retreat.
The bond launch underscores Pakistan's commitment to economic and environmental sustainability.
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Pakistán obtiene la aprobación de financiamiento climático del FMI y lanza su primer bono verde para hacer frente al clima extremo.