Pakistan will be among first to receive G7 ‘Global Shield’ climate funding

Prakash, 19, waters plants at the Clifton Urban Forest, previously a dumping site in Karachi, Pakistan on May 26, 2021. (REUTERS/File)
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Updated 14 November 2022
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Pakistan will be among first to receive G7 ‘Global Shield’ climate funding

  • The Global Shield aims to provide rapid access for climate-vulnerable countries to funding after floods, drought
  • A statement by Germany lists Bangladesh, Costa Rica, Fiji, Ghana, Pakistan, Philippines as some of initial recipients

SHARM EL-SHEIKH: Pakistan, Ghana and Bangladesh will be among the first recipients of funding from a G7 ‘Global Shield’ initiative to provide funding to countries suffering climate disasters, the program announced on Monday at the COP27 summit in Egypt. 

The Global Shield, coordinated by G7 president Germany, aims to provide rapid access for climate-vulnerable countries to insurance and disaster protection funding after floods or drought. It is being developed in collaboration with the ‘V20’ group of 58 climate vulnerable economies. 

A statement issued by Germany on Monday listed Bangladesh, Costa Rica, Fiji, Ghana, Pakistan, the Philippines and Senegal as some of the initial recipients of Global Shield packages. 

Those packages would be developed in the coming months, Germany said. 

 


Pakistan confers second-highest civilian award on Saudi commerce minister for strengthening ties

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Pakistan confers second-highest civilian award on Saudi commerce minister for strengthening ties

  • Pakistan’s Ambassador Ahmad Farooq confers Hilal-e-Pakistan award on Saudi Commerce Minister Majid Al-Kassabi in Riyadh
  • Award reflects depth of longstanding partnership and strong trade relations between both nations, says Saudi Press Agency

ISLAMABAD: Pakistan’s Ambassador to Saudi Arabia Ahmad Farooq conferred the country’s second-highest civilian award on the Kingdom’s Minister of Commerce Majid Al-Kassabi on Sunday for his contribution in strengthening ties between Islamabad and Riyadh, the Pakistan embassy in Saudi Arabia said. 

Farooq conferred the Hilal-e-Pakistan award on Al-Kassabi during a meeting between the two in Riyadh, the Saudi Press Agency confirmed in a report on Sunday. The SPA said they also discussed ways to enhance bilateral trade relations during their meeting.

“On behalf of President of Pakistan, Ambassador Ahmad Farooq, conferred Hilal-e-Pakistan on Dr. Majid bin Abdullah Al-Kassabi, Minister of Commerce of Kingdom of Saudi Arabia, in recognition of his outstanding contribution to strengthening Pakistan, Saudi Arabia relations,” the Pakistan embassy in Saudi Arabia wrote on X. 

“The award reflects the depth of the longstanding partnership and strong trade relations between the Kingdom and Pakistan, serving as an impetus to further strengthen joint cooperation for the benefit of both countries and their peoples,” the SPA said. 

Pakistan and Saudi Arabia enjoy cordial ties that date back decades and span cooperation in several sectors such as defense, trade, economy, agriculture, livestock and minerals.

Saudi Arabia is the largest source of foreign remittances to Pakistan, with over two million Pakistani expats residing in the Kingdom. Riyadh has also helped bail Pakistan out of several economic crises over the years, providing it oil on deferred payments and loans in critical times. 

The two countries also signed a landmark strategic partnership agreement in September 2025, according to which an act of aggression against one country will be seen as an attack on both.