The successful launch of the first-ever Green Bonds by Pakistan was evident to the country’s green credibility at the international level, according to Special Assistant to the Prime Minister on Climate Change, Malik Amin Aslam.
The successful issuance also shows economic stability in Pakistan, he added. The SAPM said that the GBs are a unique financing instrument to access global funding for environmental projects.
He said that Pakistan requires funding for building dams, but the multilateral banks have denied providing that because of Indian propaganda against Pakistani hydropower projects. He said that green bonds were issued for that reason, Business Recorder reported.
“Pakistan, therefore, approached the commercial market of one trillion dollars that has a plethora of opportunities to bag green financing for environment-friendly and sustainable projects,” he said.