Pakistan Has Failed to Use $11 Billion Flood Aid

Pakistan has been unable to utilize $11 billion in international flood aid, according to Finance Minister Muhammad Aurangzeb. During a speech in New York, the minister acknowledged that some of the pledged assistance after the 2022 floods has remained unused. He highlighted gaps in project preparation, institutional coordination, and implementation capacity as the country works to attract climate financing from various sources.

Aurangzeb stated that Pakistan has made progress in strengthening its climate policy framework and is working to mobilize financing through domestic resources, international financial institutions, capital markets, and climate funds. However, he emphasized that institutional fragmentation and a shortage of bankable projects continue to hinder climate implementation.

To address these issues, he called for the development of suitable projects and the strengthening of implementation capacity to ensure that pledged climate financing can be translated into tangible projects on the ground.

Welcoming Pakistan's participation in the BRIDGE initiative, Aurangzeb urged partners to reach a consensus on practical "no regret" decisions that can transition the initiative from dialogue to implementation. He stressed that climate commitments must ultimately yield concrete projects and measurable outcomes that provide tangible benefits to communities.

Throughout the UNGA high-level week, Aurangzeb's engagements have centered on climate resilience, mobilizing resources for climate action, and strengthening international partnerships to support implementation.