Pakistan, April 25 -- Pakistan suffers over $2 billion in annual losses due to climate-related disasters, worsening its already high poverty levels. The Asian Development Bank (ADB) highlighted the severe impact on vulnerable groups, especially women. In its Annual Report 2024, the ADB noted how climate events exacerbate challenges for the country's poor and underserved communities. These losses are also increasing the strain on Pakistan's resources and development efforts.

To help address these issues, the ADB signed a $500 million loan agreement with Pakistan in 2024. The funding will enhance Pakistan's disaster preparedness and response capabilities. It will also support the country in improving disaster risk mapping, mobilizing funds...