ISLAMABAD, June 27 (TNF): Pakistan has taken a major stride toward fostering sustainable development and environmental innovation with the signing of a green financing agreement worth Rs 10 billion between the Ministry of Climate Change and Environmental Coordination and the National Credit Guarantee Company Limited.
The agreement, finalized during a high-level meeting between Federal Minister Dr. Musadik Malik and NCGCL CEO Ammar Habib, represents a significant boost to the country’s green economy ambitions and reflects growing collaboration between public institutions and financial stakeholders to advance climate resilience.
The financing framework aims to support green entrepreneurship by providing financial guarantees for environmentally sustainable projects, with a particular focus on young innovators and women-led startups.
NCGCL, recently awarded a AAA rating by PACRA, will offer credit guarantees through various instruments such as convertible bonds, hybrid structures, loans, and equity investments, helping reduce risk barriers for private capital to flow into eco-conscious business models.
The initiative aligns with Pakistan’s broader climate strategy by encouraging private sector participation in climate action and building a low-carbon economy. Dr. Malik described the agreement as a milestone in Pakistan’s climate finance journey and a critical step in creating an enabling environment for sustainable, climate-smart businesses.
The partnership is expected to serve as a catalyst for inclusive and scalable green growth across the country, underscoring the government’s commitment to climate-smart economic transformation.
English