Karandaaz Pakistan, a leading development finance platform, is tackling climate change head-on with the launch of GreenFin Innovations (GFI). This groundbreaking initiative aims to empower businesses and foster innovative solutions for a greener Pakistan.
GFI offers a compelling package of support, including concessional financing up to PKR 50 million and tailored business development assistance. They’ll also connect businesses with the climate change network, fostering collaboration and knowledge sharing. This initiative prioritizes local capacity building and driving transformative change through these environmentally friendly solutions.
Pakistani businesses with a valid National Tax Number (NTN) can apply for GFI support. Their proposed solutions should actively address climate change through adaptation, mitigation, or cross-cutting thematic areas.
“GreenFin Innovations aims to catalyze sustainable solutions to combat climate change in Pakistan,” said Karandaaz Chairperson Salim Raza. “We offer blended finance with concessional loans, catering to the project’s nature and scale. GFI will empower businesses to play a pivotal role in promoting a green economy and mitigating climate change impacts.”
Karandaaz has a history of success, providing growth capital for green solutions in plastic waste management, water management, and air quality through their Green Challenge Fund (GCF). Recognizing the urgency of climate action, GreenFin Innovations builds upon this success by amplifying the impact.
Shumaila Rifaqat, Head of Innovation and MEL at Karandaaz, highlighted the importance of GFI: “Pakistan faces dire consequences from climate change. It’s imperative to develop local capacity to address these environmental challenges, and the private sector has a crucial role to play. GFI will provide essential support and risk capital to catalyze innovation in tackling climate change.”
Karandaaz invites businesses and entrepreneurs to join GreenFin Innovations in creating a sustainable future and making a significant contribution to the fight against climate change.
