Germany’s Kreditanstalt für Wiederaufbau (KfW) bank has agreed to fund Khyber Pakhtunkhwa’s (KP) Billion Tree Tsunami (BTT) project with an amount of €13.5 million (Rs. 2.39 billion).
A delegation of the bank apprised the Adviser to Prime Minister on Climate Change Malik Amin Aslam during a meeting on Monday.
A press release was issued from the ministry of climate change in this regard which said that the German bank ‘will help in monitoring and capacity building of ground staff as well as communities associated with this project.’
Project Coordination Governance’s Shaukat Ali was leading the KfW delegation, which also included Stephen Gampe and Johannes Dietz.
The delegation admired KP government’s commitment to restore the ecosystem and its efforts to fight against climate change.
PM’s advisor on Climate Change, Malik Amin Aslam, said that Pakistan is aware of its obligations towards this challenge and that the country is making efforts to contribute to the cause. He noted that the BTT project was of equal importance for both Pakistan and the rest of the world.
He informed the KfW delegation that the United Nations (UN) had included the billion tree initiative among the most successful projects in the world.
“The project would be presented as a model in the upcoming Secretary General’s Summit on Climate Change to be held in September in New York this year.”
Amin also reflected that Pakistan is also going to set up a fund for ecosystem restoration with a seed money of $50 million and expects partners to invest in it.
He said that several countries, including Norway and China, have shown interest to invest in the fund.
He asserted that the fund will help achieve the target of 10 Billion Tree Tsunami Project.
The delegation lauded federal and provincial governments’ efforts and promised their continuous support for the clean & green initiative.