Pakistan Plans to Raise $500 Million From First Green Bond Sale
- Water and power authority plans more issues over two years
- South Asian nation sold $2.5 billion of dollar bonds in March
Outside the Water and Power Development Authority (WAPDA) building in Lahore in Pakistan.
Photographer: Asad Zaidi/BloombergThis article is for subscribers only.
Pakistan plans to raise $500 million next week with the sale of a debut green bond that may lead the way for similar deals from the nation to fund hydroelectric projects.
Pakistan Water and Power Development Authority, known as Wapda, is looking to sell a 10-year note this month, and intends to offer more environmentally-friendly debt over the next two years, said Muzammil Hussain, chairman of the organization. The nation aims to tap soaring investor demand globally for green debt as it pushes forward with plans to increase renewable and hydroelectric generation to 60% of total electricity by 2030.