LAHORE:Aligned with the commitment to support the Pakistan government in bridging the financing gap for equitable and sustainable development, United Nations Development Programme (UNDP), through its Sustainable Development Goals (SDGs) Support Unit Punjab, organised a provincial consultative session with various stakeholders on financing for development in Punjab.
The consultative session was the first of many to be conducted all over Pakistan, held under the UNDP Insurance and Risk Finance Facility here.
The participants deliberated on the status and history of natural disaster-related vulnerabilities, gaps, development needs and policy priorities for risk financing and the SDG Investments in Punjab. The role of the private sector was extremely important here, especially in the wake of multiple economic challenges and the burgeoning financing gap countries are facing.
Babar Hayat Tarar, Relief Commissioner, Provincial Disaster Management Authority (PDMA), said, “Building disaster resilience is integral to effective risk management, and adequate financing and budgetary allocations for disaster management and preparedness are critical for enabling this.” He said Punjab’s geographic location and climatic conditions made it vulnerable to natural disasters, particularly river flooding, hill torrents, heatwaves, and earthquakes, adding that there was a dire need that stakeholders must synergized efforts with government and mobilised resources to ensure an effective response to climate change impacts. “I congratulate the UNDP for taking this critical initiative and leading the way in finding innovative solutions for filling the gap in climate change financing.”
UNDP Pakistan Resident Representative Knut Ostby said that UNDP Pakistan was committed to supporting the Government of Pakistan to identify and prioritise investments toward the SDGs, access much-needed research and training to build the resilience of the disaster-stricken vulnerable communities and develop the capacities required to leverage private and public capital.
Planning & Development Board Punjab Chairman Abdullah Khan Sumbal said that Punjab was the first province to develop its Integrated Financing Strategy that aims to bridge existing SDGs financing gaps in Punjab through innovative financing models to accelerate SDG’s impact. Scenario Planning & Strategic Forecasting Report developed by the Punjab SDGs Unit was another excellent guidance tool to support evidence-based resource allocation prioritization for SDGs in the province. He appreciated the UNDP initiative to strengthen Pakistan’s SDG investment portfolio by facilitating Insurance & Risk Financing solutions for disaster risk management and developing the country’s first-ever SDG Investor Map.
UNDP Pakistan Chief Development Policy Unit Ammara Durrani, PDMA Director General Faisal Fareed, Pakistan Meteorological Department Chief Meteorologist Dr. Muhammad Hanif, Lahore Chamber of Commerce & Industries President Mian Nauman Kabir, Forest, Wildlife & Fisheries Department Additional Secretary Technical Tariq Naseem, SMEDA Provincial Chief Javed Afzal, Akhuwat CEO Amjad Saqib and others were present.