Export-Import Bank of Pakistan (EXIM), JS Bank Limited (JSBL) and Climate Resource Coordination Cell (CRCC) signed a Tripartite Memorandum of Understanding (MoU) on October 25, 2022. The purpose of the MoU is to collaborate in developing a programme for greening Pakistan’s exports across multiple sectors and tap into international climate finance opportunities to fund the programme.
The event was held at EXIM Bank of Pakistan Head Office, in the presence of EXIM’s President and CEO, Mr. Irfan Bukhari. Ms. Kashmala Kakakhel (Strategic Director, CRCC), Mr Jafar Raza (Group Head Investment and International Banking, JSBL) and Mr. Abdul Hafeez (Group Head Finance, EXIM) signed the MOU on behalf of their respective organizations.
Speaking on the occasion, Mr. Irfan Bukhari, stated that provision of Green Financing in support of modernization and expansion of production capacity will contribute to positioning Pakistan as a Green Exporting country. This strategy not only will place Pakistan as an environmentally responsible country but will also be good for business for Pakistani exporters. EXIM will lead development of the programme, ensure alignment with the needs of the export sector, the relevant financial institutions, and the Government of Pakistan. JSBL will lead the process for accessing funding for the programme from international climate financing institutions, while CRCC will provide technical assistance for the development of the programme to EXIM Bank of Pakistan.
