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SBP Grants Rs 36 Billion for 521 Solar Projects

During a webinar, Governor of State Bank of Pakistan (SBP), Dr Reza Baqir, said many commercial banks have provided funding of around Rs 36 billion for 521 solar projects generating around 850 MW of electricity. under the Renewable Energy Finance Program.

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According to Dr. Baqir, Pakistan is facing challenges posed by climate change and mitigation strategies are urgently needed. In this regard, he mentioned that SBP has issued a Renewable Energy Grant Program to support renewable energy projects.

He added that channeling financial resources into long-term and resource-efficient solutions will be key to tackling climate change.

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Since 2015, Pakistan has been a member of the Global Sustainable Banking Network (SBN) and its green/sustainable financial policies are in line with international social and environmental standards as well as best practices.  

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