PAKISTAN RENEWABLE ENERGY FL

Credit line to support a series of investments promoting the use of renewable energy sources, in particular wind, solar, biomass and hydropower resources (with plants to medium size run-of-the river plants).

The financing operation would be carried out in the context of a co-financing with the Asian development Bank, which supports Pakistan’s renewable energy development sector investment programme. This programme involves both physical investments and capacity building.

The proposed operation would support projects that mitigate climate change, one of the objectives of the ALA Mandate and EU priorities. This operation will be co-financed by the Asian Development Bank, another objective set by the member states in the context of the ALA IV Mandate.

The renewable energy development programme will help to reduce poverty through electrification of, and employment generation in remote and rural areas.

The key objective of this operation is to improve the global environment by supporting projects that help to mitigate climate change. Most individual schemes to be financed are expected to be small and will have limited environmental impacts. The projects will be prepared in line with relevant national and EU environmental standards, including due consideration for protection of sites of nature conservation, as well as the environmental and social safeguards of the Bank.

Procurement will be undertaken in accordance with the Bank’s Procurement Guidelines.