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ISLAMABAD, Jun 26 (APP): Ministry of Climate Change and Environmental Coordination has inked a Rs 10 billion green financing agreement with the National Credit Guarantee Company Limited (NCGCL) to promote sustainable development.
The deal was finalized during a high-level meeting between Federal Minister Dr. Musadik Malik and NCGCL CEO Ammar Habib on Thursday.
The partnership aims to bolster green entrepreneurship, particularly for young innovators and women-led startups, by providing financial guarantees for eco-friendly projects.
NCGCL, recently awarded a AAA rating by PACRA, will offer credit guarantees for convertible bonds, hybrid financial structures, loans, and equity investments to de-risk green ventures.
This initiative is expected to accelerate Pakistan’s transition toward a low-carbon economy while encouraging private sector participation in climate resilience efforts.
Dr. Malik hailed the agreement as a crucial step in advancing green finance and supporting Pakistan’s climate goals.
The collaboration underscores the government’s commitment to fostering an enabling environment for sustainable businesses.