ISLAMABAD: Adviser to Prime Minister on Climate Change Malik Amin Aslam Wednesday said Pakistan was going to offer debt for nature swap for innovative financing of 10 billion tree tsunami (TBTT) project to bridge its financing gap
ISLAMABAD -- Adviser to Prime Minister on Climate Change Malik Amin Aslam Wednesday said Pakistan was going to offer debt for nature swap for innovative financing of 10 billion tree tsunami (TBTT) project to bridge its financing gap
"But the majority of these enterprises struggle to access the financing they need to grow and create more jobs, leaving a significant financing gap
, estimated at $1.29 billion or about 11 percent of GDP."
The United Nations estimates that $5-7 trillion is needed annually to achieve the Sustainable Development Goals (SDGs), with a significant and persistent financing gap
estimated at $2.5 trillion per year in developing countries alone.
During their discussions on Wednesday, the two sides worked out a financing gap
of around $11 billion for the next fiscal year, 2019-20.
Responding to these challenges, the new political regime immediately announced cuts in development spending, partially reversed tax relief measures, and also explored avenues to bridge the external financing gap
Umar claimed that the government had worked out the steps needed to reduce the financing gap
for FY2019, and an agreement had been reached with China which would be announced soon.
With an announcement by the United Arab Emirates (UAE) that it is giving $3 billion in loans, Pakistan government has bridged half of the financing gap
after including Saudi Arabian assistance, but it still waits for another $6 billion that will mainly come from commercial banks.
During the meeting, the costs incurred to provide services to the Syrian refugees by the health ministry and the financing gap
and consequences arising therefrom were reviewed.
Three billion dollars in aid given by the UAE to Pakistan calls for celebrations, as it not only bridges our financing gap
, but it also shows that Pakistan has not been isolated by the world, as is claimed by many, internationally.
First Circle's Irish co-founders Patrick Lynch and Tony Ennis-who started First Circle in 2016 to fill the financing gap
for SMEs-were among the 25 'high-impact' entrepreneurs handpicked by Endeavor this year.
Lambino said the P9.7 billion additional revenue also corresponds to only about 25 percent of the P40 billion financing gap
for the Universal Health Care program in 2019.