Islamabad: The Federal Government, on Thursday stated that it has begun working on green funding initiatives, according to news sources. This decision was made in response to the enormous reaction from international investors to the Indus bonds launched by the PM on May 31st.
On May 27, the Water and Power Development Authority (WAPDA) issued green Eurobonds worth USD 500 million to fund environmentally friendly projects. In an interview with the media, Prime Minister’s Special Assistant on Climate Change Malik Amin Aslam revealed that the green bond was six times oversubscribed. He also stated that the government intends to use green bonds to fund transportation and construction projects.
Furthermore, the government has concluded the testing of blue bonds, which will be utilized for eco-tourism and fisheries. To take it a step further, the government launched the first blue carbon estimation project with the assistance of the World Bank (WB).
According to reports, Pakistan is aiming to establish a ‘Nature Performance Bond,’ which will give the country easy access to development money and debt relief in return for completing ecological restoration targets.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
