Finance
Pakistan Plans First Green Bond to Fund Hydropower Projects
- $500 million bond will be euro denominated, says adviser
- Country aiming for greener economic recovery from pandemic
Photographer: Sajjad Qayyum/AFP/Getty Images
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Pakistan’s government is planning to issue a $500 million green bond in the next few months to help boost its development of hydroelectric power.
The bond, denominated in euros, will be the government’s first to fund environmental goals, Malik Amin Aslam, an adviser to Prime Minister Imran Khan on climate change, said in an interview. It is set to be issued through the country’s state-owned Water & Power Development Authority, with JPMorgan Chase & Co. advising, he said.