Noureen Chaudry
ISLAMABAD: Pakistan has presented a $4.85 billion pipeline of climate-resilient projects to Chinese officials and investors as it seeks financing, technology and investment partnerships under the Belt and Road Initiative (BRI).
The pipeline comprises 69 projects across eight sectors and forms part of Pakistan’s Climate Prosperity Plan, according to the Climate Vulnerable Forum and V20 Finance Ministers Secretariat (CVF-V20).
The projects were presented at a dialogue in Islamabad on Thursday organised by the CVF-V20 and the Institute of Regional Studies (IRS), bringing together Pakistani officials, Chinese diplomats, business representatives and climate-finance specialists.
Jauhar Saleem, president of the IRS, said the focus should be on turning climate priorities into investable projects and moving cooperation from plans to financing and implementation.
Shi Yuanqiang, chargé d’affaires at the Chinese Embassy in Pakistan, said the plan offered a clear pathway and broad market space for Chinese and other foreign companies to make green investments in Pakistan.
Romina Khurshid Alam, coordinator to the prime minister on climate change and environmental coordination, identified China as a natural partner because of its technology, manufacturing capacity and financial resources.
Participants discussed possible financing through the BRI and the Green Investment and Finance Partnership (GIFP), as well as joint ventures, local manufacturing, climate finance and carbon finance as possible ways of moving projects from planning to implementation.
The next round of investor engagement is expected at the China International Fair for Trade in Services (CIFTIS) in Beijing from Sept. 9 to 13, where the CVF-V20 is expected to showcase project pipelines and partnership models to Chinese companies and financial institutions.
Organisers said the aim would be to narrow the pipeline to a smaller number of projects with identified counterparties, clearer financing requirements and credible implementation plans.
