ISLAMABAD—The UK Climate Finance Accelerator Pakistan (CFA) is currently accepting applications from low-carbon projects that aim to combat climate change. CFA is funded by the UK Government and provides tailored support on financial, gender equality, and social inclusion issues.
The goal is to enhance project proposals and make them more appealing to investors, ultimately leading to funding.
CFA Pakistan is seeking proposals that are at least in the pre-feasibility stage and require a minimum investment of USD 4 million. To submit a proposal, applicants must complete an online application on the CFA Pakistan website by May 31st, 2024. Project support includes assistance in enhancing financial models, guidance on presenting proposals to investors, and advice on integrating gender equality and social inclusion (GESI) within the business.
British High Commissioner Jane Marriott CMG OBE said: “Pakistan is home to world-class innovators finding creative solutions to tackle climate change. However, we know that access to finance and compliance with regulations can be a barrier to getting projects off the ground. The UK Climate Finance Accelerator empowers low-carbon innovators through specialised expertise crucial for long-term business success.”
The Climate Finance Accelerator (CFA) is a £12 million technical assistance programme funded by the UK Government’s Department for Energy Security and Net Zero. The UK government has announced up to £40 million to extend the CFA programme from late 2024 until 2029. This will support up to 800 low-carbon projects in up to 16 countries across Asia, Latin America, and Africa.
CFA Pakistan has completed two cohorts, providing support to Daewoo hoping to add 200 electric busses and 15,000 e-rickshaws into their fleet; National Foods is aiming for a sustainable greenhouse tomato farming locally to save import costs; Shams Power has the ambition to implement 150MW of solar energy plants at multiple sites across Pakistan and PACT Capital wants to increase forest cover on 10,000 hectares of land. CFA has helped fifteen low-carbon projects aiming to raise at least $75 million. The global technical assistance programme is implemented in ten countries, including Colombia, Egypt, Mexico, Nigeria, Pakistan, Peru, South Africa, Türkiye, Uganda, and Vietnam.
