ISLAMABAD: In order to seek funds at the fourth international conference on financing for development in Spain in June, Pakistan will showcase three high-impact projects totaling $580 million in the communication and hydropower sectors.
The feasibility studies of the three SDG-aligned projects have been finished by the United Nations Development Programme (UNDP). These projects include a 10.96MW Mehar hydropower project in Kasur, which will cost $38.4 million; a 500MW floating solar project on Keenjhar Lake in Sindh, which will cost $318.1 million; and the second phase of the Swat motorway project, which will cost $130 million.
The UNDP intends to continue assisting the federal and provincial governments in creating bankable projects, as well as supporting Pakistan’s participation in the next international conference, which may include a specially designed investment event for Pakistan, according to reliable sources.
As part of the conference, Pakistan will showcase its investment portfolio at the SDG Investment Fair. Over 130 projects totaling over $66 billion from 25 countries have been showcased at the SDG investment fairs in previous years, with 15,000 attendees from all over the world.
From June 30 to July 3, Seville will host the Fourth International Conference on Financing for Development, offering a rare chance to reform financing at all levels, including to help
transformation of the global financial system, according to the UNDP.
A Pakistan SDG Investments and Climate Financing Facility has been established by UNDP in collaboration with the finance ministry to offer technical support for obtaining climate financing and investment possibilities.
Four main areas have been effectively supported by the facility: private sector partnerships; structuring financial instruments (debt swaps, sustainability-linked bonds, blended finance instruments with banks); technical assistance, research, and capacity-building; and project pipeline development, feasibility studies, and matchmaking.