IFC and State Bank of Pakistan Join Forces to Boost Green Banking in Pakistan

News Image

MG News | August 29, 2018 at 09:05 PM GMT+05:00

0:00

Karachi, Pakistan, August 29, 2018: IFC, a member of the World Bank Group, and the State Bank of Pakistan (SBP) have signed an advisory agreement to support green banking in Pakistan, part of IFC’s commitment to helping countries transition to green, low carbon, sustainable economies.

IFC’s advisory services team will assist the SBP and Pakistan’s banking sector in improving their environmental risk management practices, and ensuring ethical lending practices. SBP has already taken an initial step towards this with the issue of its green banking guidelines last October.

“Green banking is vital to reduce the vulnerability of the financial sector to environmental risks and provide financing to make economies more resource-efficient and climate resilient,” said Nadeem Siddiqui, IFC’s Senior Manager for Pakistan. “Our aim is to leverage our global experience to assist  Pakistan’s State Bank build the capacity of the banking sector in green banking practices.”

IFC is a global leader in green banking, providing both advisory and investment support to financial sector regulators and intermediaries on building their green banking business. Over the last two decades, IFC has worked on more than 200 projects with 150 financial institutions in 15 countries, and provided nearly $5.7 billion in financing, including developing green banking business models and issuing green bonds.

The State Bank of Pakistan is also part of the IFC-supported Sustainable Banking Network, a global community of financial sector regulatory agencies and banking associations from emerging markets committed to advancing sustainable finance in line with international best practices.

Pakistan is a priority country for IFC. Over the last three years, IFC has ramped up its investments and advisory services work in the country with current investment commitments of $1.2 billion to support the development of Pakistan’s private sector, especially in power and infrastructure, and boost access to finance for micro, small and medium enterprises.

Related News

Name Price/Vol %Chg/NChg
KSE100 135,718.38
167.44M
1.06%
1418.62
ALLSHR 84,794.94
570.68M
0.92%
776.78
KSE30 41,240.16
63.17M
1.04%
425.87
KMI30 193,106.44
59.49M
0.27%
517.28
KMIALLSHR 56,308.44
259.90M
0.42%
236.19
BKTi 37,852.51
18.50M
2.38%
880.76
OGTi 28,097.86
3.71M
-0.50%
-142.42
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 122,730.00 123,615.00
118,675.00
4200.00
3.54%
BRENT CRUDE 71.08 71.29
70.35
0.72
1.02%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.25
0.26%
ROTTERDAM COAL MONTHLY 108.75 0.00
0.00
0.05
0.05%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 69.22 69.39
68.41
0.77
1.12%
SUGAR #11 WORLD 16.64 16.67
16.54
0.07
0.42%

Chart of the Day


Latest News
July 14, 2025 at 01:06 PM GMT+05:00

OGDC leads State-Owned firms in H1 FY25 profits


July 14, 2025 at 12:24 PM GMT+05:00

NHA tops SOE losses with around Rs2tr accumulated deficit


July 14, 2025 at 12:11 PM GMT+05:00

IHC suspends earlier ruling against TRG Pakistan


July 14, 2025 at 11:32 AM GMT+05:00

PIA shows Rs26bn profit, but actually in loss


July 14, 2025 at 10:46 AM GMT+05:00

Bitcoin overtakes Amazon in global asset rankings



Top 5 things to watch in this week

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