$47.6 billion project to transform the Indus Basin with climate-resilient agriculture and water management

0

ISLAMABAD – The provincial governments of Punjab and Sindh, through the Food and Agriculture Organization of the United Nations (FAO), will embark on a project worth $47.6 billion to transform the Indus Basin with climate-resilient agriculture and water management.
The Central Development Task Force last month approved the Indus Basin Transformation Project with climate-resilient agriculture and water management, an official source told The Nation.
The Green Climate Fund (GCF) will provide a grant of $34.99 million, through the Food and Agriculture Organization of the United Nations (FAO), for the project. The total cost of transforming the Indus Basin with a climate-resilient agriculture and water management project is $47.6 million and it will be jointly executed by the United Nations Development Organization. Food and Agriculture Organization (FAO) with the provincial governments of Punjab and Sindh, official documents have revealed. The project will be based in the provinces of Punjab and Sindh in Pakistan and will be completed in six years.
The Green Climate Fund (GCF) had already agreed to provide $34.99 million through the Food and Agriculture Organization of the United Nations (FAO) for the projects, the source claimed. . The total amount of the GCF grant is $34.99 million, while $12.7 million will be provided by the cofinancier, i.e. the governments of Punjab and Sindh, from their respective Annual Development Plans (ADPs). The Government of Punjab’s share envisaged in the GCF funding proposal is US$8.0 million, while the rest will be funded by the Government of Sindh. Funds will be provided by provincial ADPs with annual allocations spread over the life of the project. Project objectives include strengthening institutional and regulatory systems of agriculture and irrigation for climate-responsive planning and development, increasing production of climate information and its effective use in rapid response to disasters climate change and decision-making, improving the adaptive capacity of the farming community through reduced exposure to on-farm climate threats and raising awareness among stakeholders of climate change threats and risks and to develop their capacities in these aspects. Government of Punjab will transfer funds (Rs 1,392 million) to FAO through the mechanism called Unilateral Trust Fund (UTF) Agreement which will be signed between FAO and Government of Punjab. As an accredited project agency, the funds will be managed by FAO with GCF funds. Of a total GCF grant of $34.99 million, approximately $22 million will be spent to support activities in Punjab in addition to its co-funding share of $8 million.


Share.

About Author

Comments are closed.