JS Bank, EXIM Bank & CRCC team up to enhance green export capacity

KARACHI: JS Bank – one of the fastest-growing banks in Pakistan and the country’s first private-sector institution to have been accredited by the Green Climate Fund (GCF), the world’s largest climate fund – has partnered with CRCC (Specialized Business Unit of NRSP) and EXIM Bank (Export Import Bank of Pakistan) to enhance Pakistan’s green export capacity through Green Financing.

The Memorandum of Understanding (MoU) was inked in Islamabad by Syed Raza Jafar, Group Head Investment Banking & International Banking, JS Bank; Irfan Bukhari, President & CEO, EXIM Bank and Kashmala Kakakhel, Strategic Partner, CRCC. The ceremony was attended by other senior representatives from all institutions.

Speaking on the occasion, Syed Jafar Raza said, “As the only commercial bank accredited with the Green Climate Fund in Pakistan, we believe that JS Bank can play a big role in making the export industry of Pakistan ‘Green’. We believe in responsible financial intermediation and have actively promoted renewable & clean energy availability for residential and SME sectors.”

Irfan Bukhari, President & CEO EXIM Bank added, “The provision of Green Financing in support of modernization and expansion of production capacity will contribute to positioning Pakistan as a green exporting country. This is an initiative EXIM Bank will want to scale up with time.”

This collaboration will not only position Pakistan as an environmentally responsible country but will also be beneficial for Pakistani exporters. Through such initiatives, JS Bank continues to add value to the economy of Pakistan, while serving its valued customers with world-class products and services.

Copyright Business Recorder, 2022