ISLAMABAD: The UK Climate Finance Accelerator Pakistan (CFA) is calling for applications from projects aiming to combat climate change by adopting low-carbon approaches. Supported by the UK Government, CFA offers tailored assistance covering financial aspects, gender equality, and social inclusion. The goal is to enhance project proposals to attract investment.
Projects at least in the pre-feasibility stage, requiring a minimum investment of $4 million USD, are sought after. Interested parties can submit proposals by May 31, 2024, through the CFA Pakistan website.
The assistance includes refining financial models, improving investor presentations, and incorporating gender equality and social inclusion strategies.
British High Commissioner, Jane Marriott CMG OBE, remarked, “Pakistan hosts innovators with solutions for climate change. However, accessing finance and adhering to regulations can be challenging. The UK Climate Finance Accelerator equips low-carbon innovators with crucial expertise for long-term success.”
The Climate Finance Accelerator is a £12 million technical assistance program funded by the UK Government’s Department for Energy Security and Net Zero. Additionally, up to £40 million has been committed to extend the program until 2029, supporting about 800 low-carbon projects across Asia, Latin America, and Africa.
CFA Pakistan has already assisted diverse projects, including Daewoo’s electric buses and e-rickshaws, National Foods’ sustainable greenhouse tomato farming, Shams Power’s solar energy plants, and PACT Capital’s forest expansion initiative.
The program has aided fifteen projects in raising at least $75 million. Implemented in ten countries, including Pakistan, the CFA aims to facilitate sustainable development globally.