Tuesday, April 23, 2024

Pakistan Plans First Green Bond to Fund Hydropower Projects

The government plans to issue the country’s first green bond, in a bid to raise renewable energy in Pakistan.

In the coming months, the government is planning to launch a $500 million green bond that would be used to build hydroelectric power.

Malik Amin Aslam, advisor to PM Imran Khan on climate change, stated that the bond will be dominated by the euro and will be distributed along with JPMorgan Chase & Co. through the Water & Power Development Authority (WAPDA)

“In Pakistan, we’ve got a lot of hydro potential,” he said. “The bonds are there to speed this up,” Aslam added.

Prime Minister Imran Khan’s current government is eager to improve the production of electricity from renewable sources, including wind and solar.

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