Discussion on ‘Green Financing for SMEs’

LAHORE: World Wide Fund for Nature-Pakistan (WWF-Pakistan) organised a one-day capacity building and group discussion on ‘Green Financing for SMEs in Pakistan: Challenges, Opportunities and Way Forward’ at a local hotel here Thursday.

A press statement issued by WWF said the session aimed to bridge the gap between SMEs and financial institutions so that enterprises have an opportunity to access finances for investing in environment-friendly technologies. Environment compliance by the textile and leather SMEs is pivotal for growth in Pakistani exports in the international market.

Compliance with environmental standards is an essential requirement to meet Sustainable Development Goals and maintain the GSP Plus status, the statement added. Access to finance is a major impediment for SMEs, which intends to become compliant to environment standards. They cannot invest in environment-friendly technology unless they are supported through green financing opportunities, which can be provided by different financial institutions. Mudassar Ali Khan, State Bank of Pakistan’s Assistant Chief Manager, briefed participants about the green banking initiative of the bank. He urged banks and industry participants to take advantage of subsidised financing for installation of renewable energy projects/ solutions of up to one MW for their own use as well as supply to distribution companies under Nepra’s net metering regulations.

Sohail Ali Naqvi, Manager Freshwater Programme, WWF Pakistan said, “Pakistan’s economy can tread the path of sustainable development if more resource efficient technologies and business models are encouraged for SMEs.”