- Home
- Pakistan
- Green Bonds testament to Pakistan's economic stability, green credibility at global level: Amin
Green Bonds Testament To Pakistan's Economic Stability, Green Credibility At Global Level: Amin
Muhammad Irfan Published June 09, 2021 | 05:10 PM
ISLAMABAD, Jun 9 (UrduPoint / Pakistan Point News - 9th Jun, 2021 ) :Special Assistant to the Prime Minister on Climate Change Malik Amin Aslam on Wednesday said successful launch of first-ever Green Bonds was testament to Pakistan's economic stability and green credibility at the global level.
The Prime Minister's aide in his exclusive interaction told APP that the Green Bonds were unique financing instrument to achieve global funding for environmental conservation projects and the first of its kind being issued by the country.
Amin said the reason behind issuing green bonds was that the country required funding for building dams which the multilateral banks denied due to Indian officials' propaganda against Pakistani hydropower projects.
"Pakistan, therefore approached the commercial market of one trillion Dollars that has plethora of opportunities to bag green financing for environment friendly and sustainable projects," he said.
The Special Assistant to the Prime Minister (SAPM) told that the issuance of Green bonds was Pakistan's first entry into a one trillion dollars market. However, in response to our US$500 million Green Bonds issued by Water and Power Development Authority (WAPDA) there was a six times bigger response of US$6 billion dollars funding extended by the market, he added.
Amin said, "This shows that there is positive appetite in the market based on Pakistan's economic stability and green credibility which will provide us the first window to enter in the green market.
" This, he said was also WAPDA's efforts acknowledgment for this issuance of the bonds which would be opening venues for Pakistan to the global market.
He underscored that the financing would be used in renewable energy projects, green transport particularly electric vehicles, green buildings or infrastructure development and waste to energy initiatives.
"All these projects can come under these green financing. The most interesting part of the Green Bonds is that there is no sovereign guarantee involved in the issuance of these Green Bonds," Amin told.
He went on to mention that it was win-win situation for Pakistan and a clear signal that Pakistan's credibility was very high in international Green Bond market.
The SAPM remarked that Pakistan had come at a very right time to give a strong message on green financing to the world on this on World Environment Day.
To a query, he responded that the Ministry of Climate Change would serve as a conduit to other ministries for issuing Green Bonds for eco-friendly and sustainable projects.
Replying another query, he said there were two parameters for issuing financing to a green bond based on a country's economic status and environmental feature of the project where ours situation has been very promising and credible which was a proud moment for the nation.
/395
Recent Stories
HEC reviews curricula for environmental sciences degree programme
ICC Asia looking forward to an action-packed Asia Cricket Week
Yuvraj Singh named ICC Men’s T20 World Cup 2024 Ambassador
Greece hands Olympic flame to 2024 Paris Games hosts
Two Kyiv hospitals evacuating over feared Russian strikes
World must act on neurotech revolution, say experts
Charles & Catherine's cancer diagnoses
Champions Alcaraz and Sabalenka through in Madrid Open
King Charles to resume some public duties during cancer treatment: palace
US defense chief announces $6 bn in security aid for Ukraine
Heavy rains cause damage to Spezand-Taftan railway track
Woman stabbed in Israel, attacker killed: police
More Stories From Pakistan
-
Saudi ministry warns against fraudulent Hajj schemes; urges vigilance, official channels for booking
1 hour ago -
SC to take up 9 identical petitions regarding judges' letter
2 hours ago -
Woman committed suicide in Pindigheb
2 hours ago -
Teenage girl abducted in Hassanabdal
2 hours ago -
NTDC Super 8 Inter-Departmental Tape Ball Cricket Tournament concludes: GM (HR) team clinches the w ..
2 hours ago -
AJK President calls for overseas Kashmiris' proactive role to expose the Modi government's nefarious ..
2 hours ago
-
AJK-wide campaign begins to vanish black-tinted glasses to all sorts of vehicles
2 hours ago -
Islamabad to be digitalized as pilot project under national digitalization plan: IT Minister
2 hours ago -
HEC reviews curricula for environmental sciences degree programme
3 hours ago -
Heavy rains cause damage to Spezand-Taftan railway track
3 hours ago -
Documentary on life of Jamiluddin Aali screened at embassy
3 hours ago -
"Sindh Theater Festival 2024" commences in Larkana
3 hours ago