ISLAMABAD (PR): The Executive Council of the National Economic Council (ECNEC) has approved over Rs.16 billion climate fund for Gilgit-Baltistan.
The allocated fund will be used for climate change-resistant housing construction, green hydrogen piloting, promotion of tourism sector and other projects.
The approval of these projects is an important step toward sustainable development in Gilgit-Baltistan. The project would be implemented by Planning and Development Department G-B with the support of the Aga Khan Fund (AKF), Aga Khan Development Fund Network (AKDN), and the European Union (EU).
The launch of rural development and climate resilience project considered as an important milestone for all communities residing in the mountainous region of Gilgit-Baltistan.
The project has been designed to build capacity among local communities to counter development challenges and the adverse effects of climate change.
According to the chief secretary of Gilgit-Baltistan, the funding is also aimed at building eco-friendly and energy-efficient houses, generating renewable energy, and making proper use of local water resources for sustainable development.
He further said that the project would promote the development of small and medium enterprises (SMEs) to boost economic growth by creating employment opportunities.
The interventions will create a positive change in various aspects of life in Gilgit-Baltistan, including socio-economic development, environmental protection, and quality of life, by adopting a community-based strategy in cooperation with AKDN, further added the chief secretary G-B.
