Seven New Projects Announced for Pakistan Finance Accelerator Initiative by UK

Seven New Projects Announced for Pakistan Finance Accelerator Initiative by UK

The United Kingdom has unveiled seven cutting-edge low-carbon projects as a part of the first cohort for the climate finance accelerator (CFA), Pakistan, according to Mian Kashif Ashfaq, chairman of the UK-Pakistan Joint Business Council.

The projects that were chosen from more than 50 bids were from the energy, transportation, agriculture, forestry, and other land uses (AFOLU), waste, e-mobility, industrial, and manufacturing sectors, according to released news from the British High Commission in Pakistan on Tuesday.

Specifically targeted funding will be provided for a few chosen projects in the manufacturing, energy, waste, transportation, agricultural, forestry, and other land uses, as well as the energy and transportation sectors.

Out of a total of 50 projects, he claimed that 7 were chosen for further consideration. These projects were ACT Engineering Services, Digital Dera by Agriculture Republic, Concept Loop, Daewoo Pakistan Express Bus Service Ltd, DISIDE, Ouroboros Waste Management, and Shamas Power Ltd.

According to Mian Kashif, greenfield solar projects will aid industrial and commercial enterprises in Pakistan in converting to solar energy through accessible financing instruments of 150 MW on numerous sites.

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