Commerce Desk
Islamabad: Karandaaz Pakistan has joined the Green Climate Fund’s (GCF) global partnership network after its accreditation at the GCF Board’s 46th meeting in Songdo, South Korea. As a Direct Access Entity, it can now access, blend and channel international climate finance directly to initiatives in Pakistan aligned with the country’s Nationally Determined Contributions, National Adaptation Plan and Green Taxonomy.
Karandaaz, a national impact investment platform, plans to use the partnership to mobilise private capital, de-risk climate-smart investments and support sectors most exposed to climate volatility. Over the past decade, it has used growth equity, debt and blended finance to help MSMEs adopt resource-efficient technologies and clean energy.
GCF’s Achala Abeysinghe said Karandaaz brings strong local market knowledge and can help expand climate finance for businesses and financial institutions. CEO Waqas ul Hasan called the accreditation a transformative step that will help structure scalable climate projects, ease liquidity bottlenecks and catalyse private capital, and said Karandaaz looks forward to building a robust project pipeline with partners.
