Governor Ahad Khan Cheema advocates global climate cooperation at ADB meeting

Pakistan's Governor for the Asian Development Bank (ADB), Ahad Khan Cheema, emphasized the urgent need for global cooperation to address the challenges posed by climate change during the ADB's 57th Annual Meeting in Georgia. Cheema highlighted that climate-vulnerable developing member countries like Pakistan, despite having a minimal carbon footprint, are disproportionately affected by the adverse impacts of shifting weather patterns.

Cheema stressed the importance of collective efforts in accessing international climate finance to mitigate the economic repercussions of the climate crisis on countries like Pakistan. He called for a fair and accessible climate finance system that does not exacerbate the debt burden of developing nations, acknowledging the pivotal role of ADB as the 'climate bank' in facilitating this process.

Furthermore, Cheema outlined Pakistan's ongoing structural reforms in areas such as taxation, energy, and privatization to stimulate economic growth and stability. He expressed gratitude for the partnership with ADB and urged for increased financial assistance and knowledge support in critical sectors like climate change, energy infrastructure, and human capital development.

The governor also welcomed ADB's institutional and capital reforms, including the Capital Adequacy Framework review unlocking $100 billion for financing over the next decade. He endorsed the Sovereign Exposure Limits Framework to ensure equitable resource distribution among member countries.

In his closing remarks, Cheema emphasized the importance of global collaboration in overcoming challenges and securing a sustainable future for generations to come.