Friday, 01 December 2023, 06:41:23 pm
FM Jilani calls for successful operationalization of ‘loss & damage fund’
September 22, 2023

Foreign Minister Jalil Abbas Jilani has called for a successful operationalization of a robust, efficient and well-resourced loss and damage fund to mitigate negative impact of climate-induced disasters.

He was addressing the ministerial consultations on funding arrangements for responding to Loss and Damage on Friday. 

The Foreign Minister said Loss and Damage fund must be responsive to the needs, priorities and circumstances of vulnerable developing countries like Pakistan. It must play a central role in the systemic global response to losses and damages caused by climate change.

He said all vulnerable developing countries, irrespective of their level of development and geographical grouping, must be eligible.

Jalil Abbas Jilani said additional, adequate, non-debt producing, and grant-based public finance must be the primary source of the funding. He said innovative finance should complement the public grant-based finance by developed countries.

The Foreign Minister said Pakistan looks forward to continue working closely with all parties and international partners in a constructive manner for successful operationalization of the fund at COP28.