KARACHI: Governor State Bank of Pakistan (SBP) Dr. Reza Baqir in a webinar stated that around 521 solar projects worth Rs 36 billion will approximately produce 850 MW energy under the Financing Scheme for Renewable Energy. The finances for the projects will be arranged through various commercial banks.
Dr Baqir stated that a Financing Scheme for Renewable Energy has been issued in order to promote renewable energy projects since Pakistan is ensnared in challenges owing to climate change.
He further stated that mobilisation for the expenses would play a pivotal role in moving towards sustainable development and mitigating the effects of climate change. This is in line with the global environmental and social standards and policies. Since 2015, Pakistan is also a member of the Global Sustainable Banking Network (SBN) that will help materialise and finance sustainable goals.