Why World Bank Gave Pakistan $120m for Green Stimulus project?

green stimulus project and world bank

INTRODUCTION

The brunt of climate change is likely to be faced by developing and underdeveloped countries. Pakistan – a developing country – is one of the examples that stand in the most affected countries by climate change. The Government of Pakistan seems environmentally conscious and keeps introducing eco-friendly projects that would save the environment from degradation.

GREEN STIMULUS PROJECT

In simple terms, the green stimulus project revolves around sustainability. The objective of this project is to promote eco-friendly technology that would also help in maintaining the economy. It is considered a green relief package during the COVID-19 pandemic. Adaptation to a low carbon economy is the current need of time and it would create more job opportunities.

People could find investing opportunities in green infrastructure. The resiliency of green infrastructure would tackle the impacts of climate change in a sustainable way.

WHY WORLD BANK GAVE PAKISTAN 120 MILLION DOLLARS?

COVID-19 has made pathways towards green stimuli. The Government of Pakistan has initiated several green projects in order to prevent environmental degradation. During pandemic COVID-19 the Prime Minister Imran Khan announced the initiation of a green stimulus project that would be included in the relief package for people. For this purpose, World Bank has granted 120 million dollars to Pakistan. The project will be launched by PM Imran Khan in October expecting to create nearly 200,000 jobs across Pakistan.

Due to the clean green Pakistan programme by Prime Miniter Imran Khan, the country hosted World Environment Day. The country has already shut off coal-based power plants aiming to reduce greenhouse gases emissions and started using hydroelectric power. Prime Minister of Pakistan has launched protected areas management project that includes the preservation of 15 national parks. Other projects include olive production, honey production, and bamboo production. Recently e-bikes have been launched in the country. People are welcoming this initiative by the Government of Pakistan.

Check out Are Electric Cars and Vehicles Feasible In Pakistan Currently?

PAKISTAN’S GREEN AGENDA

Pakistan’s green agenda aims to provide youth with employment and prioritize green technology. According to the news source, the 10 billion tsunami initiative provided people with nearly 85000 jobs in the green sector that include raising plant nurseries. This project has received the world’s attention and appreciation.

Check out Pakistan 10 Billion Tree Tsunami Impact – Before and After Pictures

Developed countries should learn from Pakistan about the hard work and devotion the country is putting up to protect the environment. Saudi Arabia has also shown interest in launching a similar project by signing a memorandum of understanding. And in the upcoming month, PM Imran Khan will visit Saudi Arabia upon invitation by the Saudi crown prince.

Read: Pakistan Govt. Launches 6 Initiatives To Control Environmental Degradation

Pakistan is trying to boost its economic conditions by implementing environmentally sustainable projects. But the critics are not far from making critical comments and disgracing the honorable reputation of these projects.

The Special Assistant to Prime Minister has asked the opposition to join the government in making the environment better for people rather than criticizing BTTP.

CONCLUSION

Pakistan is the only country that inspires other countries when it comes to saving the environment from the ongoing climate crisis. Developed countries and top polluting countries should follow the green agenda of Pakistan because those countries are responsible for releasing the exponential release of greenhouse gases. Our Earth is witnessing extreme weather events. Climate change is damaging social, economical, and environmental sectors equally. If we take it seriously and implement climate change adaptation policies, we could definitely save the world.

Also, check out Weather Impacts Number of COVID-19 Cases In Pakistan – Research

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