Pakistani government officials participated in a high-level international discussion focused on innovative financial solutions designed to align debt relief measures with sustainable development and climate resilience goals. Federal Minister for Climate Change and Environmental Coordination, Dr. Musadik Malik, addressed the forum, underscoring the importance of climate-resilient initiatives, renewable energy sources, and utilizing Pakistan’s water resources for sustainable development.
The special side event, titled “Swapping Out Debt for Development: The DSC Financing Approach,” was held in Seville, Spain. The Pakistani delegation included Federal Minister for Finance Muhammad Aurangzeb and Minister of State for Climate Change and Environmental Coordination Ms. Shezra Mansab Ali Khan.
During the event, participants exchanged views on innovative financing frameworks aimed at harmonizing debt relief with development initiatives that enhance climate resilience. The discussion emphasized new ways to redirect financial resources freed from debt obligations towards projects benefiting economic growth, social development, and the environment.
In his remarks, Dr. Malik specifically highlighted the extraordinary potential of renewable energy, particularly stressing the importance of solar energy as a viable and sustainable power source. He noted that investing in renewable energy infrastructure is critical to achieving long-term environmental and economic stability.
Furthermore, Dr. Malik emphasized that Pakistan’s oceans and rivers represent largely untapped resources that could substantially contribute to national sustainable development initiatives. He called for strategic investment in these natural assets, citing their great potential in supporting Pakistan’s ongoing pursuit of sustainable and resilient growth.
