New partnership unlocks international climate finance funding to mobilise private investment, de-risk local markets, and support climate-resilient enterprise growth.
Karandaaz Pakistan has joined the Green Climate Fund’s (GCF) global partnership network following its official accreditation by the GCF Board at its 46th Board Meeting (B.46) in Songdo, Republic of Korea.
This accreditation enables Karandaaz to access, blend, and channel global climate finance directly toward high-impact climate finance initiatives across Pakistan that link directly with Nationally Determined Contributions, the National Adaptation Plan and Pakistan’s Green Taxonomy. As a national impact investment platform, Karandaaz will leverage this partnership to mobilise private capital, de-risk climate-smart investments, and support vulnerable sectors disproportionately impacted by climate volatility.
Pakistan remains among the world’s most climate-vulnerable nations, requiring significant mobilisation of international and domestic resources to achieve its climate targets and build long-term economic resilience. Direct Access accreditation is a vital institutional mechanism, ensuring that climate financing decisions align closely with national priorities, local economic structures, and market needs.
Achala Abeysinghe, Director of the Green Climate Fund’s Department of Investment Services, said:
“Karandaaz Pakistan brings strong knowledge of local financial markets to GCF’s partnership network. Together, we can expand climate finance for businesses and financial institutions supporting Pakistan’s low-emission, climate-resilient development. GCF is committed to working with national institutions that can strengthen local markets, mobilise private investment and channel finance to solutions that respond to country priorities.”
Over the past decade, Karandaaz has positioned itself at the forefront of Pakistan’s green transition by bridging financing gaps for high-impact, climate-smart interventions. Through growth equity, debt and blended finance facilities, the organisation has enabled micro, small, and medium-sized enterprises (MSMEs) to adopt resource-efficient technologies, scale clean energy solutions, and build climate resilience. By pioneering market-level de-risking and driving innovation in underserved sectors, Karandaaz has demonstrated that access to finance and climate action are intrinsically linked. This track record ensures that international climate finance is effectively mobilised to protect vulnerable communities, generate green jobs, and support Pakistan’s national climate commitments.
Waqas ul Hasan, Chief Executive Officer of Karandaaz Pakistan, stated:
“Securing accreditation with the Green Climate Fund marks a transformative chapter in our institutional journey. It is great news for green financing in Pakistan. We need to develop deep institutional ties with global financing facilities for sustainable and climate-resilient growth in our country. Direct Access accreditation enables Karandaaz to structure scalable and viable climate interventions, bridge critical liquidity bottlenecks for enterprise development, and catalyse private sector capital toward Pakistan’s national climate agenda. We look forward to working with partners to develop a robust pipeline.”
With this accreditation, Karandaaz joins GCF’s global network of direct access entities, strengthening Karandaaz and Pakistan’s institutional capacity to originate and implement complex, bankable climate programs in partnership with the private sector and development partners.
