Pakistan has begun preparations for securing another $1.5 billion loan programme from the International Monetary Fund (IMF), with negotiations scheduled to take place later this month.
Two IMF delegations are expected to visit Pakistan to conduct an economic review for both the new loan programme and the next tranche of the already approved $7 billion programme.
The total discussions will cover a combined loan amount of $2.5 billion.
According to sources, an IMF delegation will visit Pakistan on February 24 to negotiate the $1.5 billion concessional loan. This new loan programme is reportedly aimed at addressing the damages caused by climate change.
Sources revealed that Prime Minister Shehbaz Sharif recently met with IMF Managing Director Kristalina Georgieva, during which discussions were held about the new climate-related loan programme.
Pakistan's economy suffered $30 billion in losses due to climate change over the past two years.
The IMF's new loan programme will aim to help mitigate these damages.
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