Pakistan plans to issue a $500 million green bond to help boost its development of hydroelectric power projects. This bond, which is denominated in Euros, represents Pakistan’s first contribution to environmental goals. Moreover, JPMorgan Chase & Co. and the Water and Power Development Authority (WAPDA) will jointly issue the bonds.
The state government has also invested in renewable energy projects in response to the pandemic and to make necessary changes to the energy mix. Moreover, in Pakistan, there is great hydro potential, and the bonds will help to accelerate it. Globally, green bond issuance is expected to reach $375 billion by 2021.
Source: Business Recorder