Tag: backs

IFC backs renewable energy projects in Pak

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article image STAFF REPORT ISB: A private sector company Yunus Energy Limited (YEL) mulls to import equipment for its 50MW wind power project at site of Jhimpir, District Thatta, Sindh. The company mulls to import wind power turbine from Germany based Nordex Singapore Equipment Private Limited. International Finance Corporation (IFC) has issued a guarantee to Deutsche Bank on behalf of Bank Al Habib to support Letter of Credit issued by the bank to allow YEL import of said equipment. Mouayed…Read More

WB backs out of Thar coal project over pollution issue

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article image STAFF REPORT KHI: The World Bank has pledged to finance a $30 million project relating to Thar coal but later withdrew its support citing a policy change’ as the reason, said Sindh Law and Parliamentary Affairs Minister Dr Sikander Mandhro told the assembly. He said this while responding to questions regarding the energy department during the assembly session. Dr Mandhro said that the World Bank had changed its policy because of environmental concerns relating to pollution…Read More

FRA backs Pak steps on forestrys climate

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article image MONITORING REPORT BAINBRIDGE ISLAND: The Forestry Research Associates (FRA) has welcomed the initiative of Pakistan to monitor climate change impacts and scenarios."The Pakistan Forest Institute (PFI) is looking into the different climate change impacts in various regions throughout Pakistan and how this affects forestry resources," stated Peter Collins, FRA’s analysis partner.The PFI explained that it is the first professional attempt to address the emerging issues of climate…Read More