ISLAMABAD: Finance Minister Muhammad Aurangzeb has confirmed that a technical mission of the International Monetary Fund (IMF) has reached Pakistan to hold talks on climate financing during its three-day stay.

Speaking to the media, he confirmed that a second IMF team would visit next month to discuss matters pertaining to the country’s $ 7 billion Extended Fund Facility (EFF).  The federal minister’s confirmation comes after IMF’s resident chief Mahir Binici said that two missions were due in Islamabad, with the first delegation set to focus on discussions regarding authorities’ request for assistance under a Resilience and Sustainability Facility (RSF) arrangement, whereas the second one was to review the country’s progress under the latest bailout programme.

According to well-placed sources, the four-member mission has held an introductory meeting with the officials at the Ministry of Finance and will engage in technical discussions commencing today. The climate change-related discussions come against the backdrop of Islamabad’s request for $1 to $1.5 billion in funding to augment the existing loan of $7 billion under EFF up to $8 or $8.5 billion.