In a bid to promote renewable energy in Pakistan, the government intends to issue the country’s first green bond.
The government plans to introduce a green bond of $500 million in the coming months that will be used to construct hydroelectric power.
Malik Amin Aslam, climate change advisor to PM Imran Khan, said that the bond would be dominated by the euro and will be circulated through the Water & Power Production Authority along with JPMorgan Chase & Co. (WAPDA)
“We’ve got a lot of hydro potential in Pakistan,” he said. “The bonds are there to accelerate this,” added Aslam.
The current government of Prime Minister Imran Khan is eager to increase the development of electricity, including wind and solar, from renewable sources.