BoP secures $54.2m from AFD for climate initiatives in Pakistan

News Image

MG News | October 07, 2024 at 10:09 AM GMT+05:00

0:00

October 07, 2024 (MLN): The Bank of Punjab (BOP) has successfully arranged a Foreign Currency (FCY) On-lending Facility of USD 54.2 Mn (Credit Facility) from Agence Française de Développement (AFD), the French state development finance agency.

This Credit Facility is intended for onward lending to climate adaptation and mitigation projects and activities in Pakistan.

In addition to the Credit Facility, AFD is also providing BOP a Grant Facility of EUR 675K to support a technical assistance program.

The Credit Facility marks the first FCY facility arranged by a Pakistani commercial bank specifically tied to climate financing.

Additionally, this collaboration represents the first-ever partnership between AFD and a Pakistani commercial bank, making it a significant milestone for both institutions.

The successful close of the facilities was commemorated at a signing ceremony at AFD’s head office in Paris, where the formal agreements were executed by Cyrille Bellier, AFD Director for Europe, Middle East & Asia and Umer Khan, Head Investment Banking, BOP.

The ceremony was also attended by Muhammad Naeem Javid, CFA, Head Project Finance, BOP, along with senior representatives from AFD.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 138,597.36
256.32M
-0.05%
-68.14
ALLSHR 85,286.16
608.38M
-0.48%
-413.35
KSE30 42,340.81
77.13M
-0.03%
-12.33
KMI30 193,554.51
76.19M
-0.83%
-1627.52
KMIALLSHR 55,946.05
305.11M
-0.79%
-443.10
BKTi 38,197.97
16.53M
-0.59%
-225.01
OGTi 27,457.35
6.73M
-0.94%
-260.91
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,670.00 121,165.00
117,035.00
-1620.00
-1.36%
BRENT CRUDE 69.23 70.77
69.14
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.03 67.54
65.93
-0.20
-0.30%
SUGAR #11 WORLD 16.79 17.02
16.71
0.05
0.30%

Chart of the Day


Latest News
July 19, 2025 at 04:28 PM GMT+05:00

4.7m families get BISP aid in Punjab


July 19, 2025 at 03:00 PM GMT+05:00

Key Pakistan Market Stats and Economic Indicators


July 19, 2025 at 02:49 PM GMT+05:00

RDA attracts $182m in June


July 19, 2025 at 02:49 PM GMT+05:00

M2 falls by Rs455bn in a week



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg