Pakistan Distributed Solar Project

Pakistan Distributed Solar Project

  • Status Under implementation
  • Date approved 19 May 2022 at B.32
  • Est. completion 04 Oct 2033
  • ESS Category Category C

Pakistan’s growing energy sector is heavily reliant on fossil fuels, which currently provide around 65 per cent of the country’s energy mix. Significant investment in renewable energy is needed to curb emissions, meet the country's growing energy demand, and transition its sector to green and reliable energy sources. Pakistan has set targets for emissions reduction and has highlighted the importance of scaling renewable energy sources, including solar power in its national plans. However, significant investment barriers exist, making the switch to renewable energy products such as solar photovoltaic (PV) installations challenging.

The project will provide tailored financing solutions for distributed solar PV products to help bridge the financing gap for these investments in Pakistan. A guarantee facility provided by GCF will be deployed to finance 43 MW solar PV installations for households, agribusinesses and small and medium enterprises (SMEs). It will support lending through the existing renewable energy scheme launched by the State Bank of Pakistan (SBP) in which partner banks offer concessional loans to customers to acquire solar PV systems. With the GCF guarantee facility, JS Bank can broaden the scope of the scheme by reaching previously untapped market segments and users. The project will also provide technical assistance to strengthen capacity of solar PV vendors and other key stakeholders and raise market awareness of climate change risks and the benefits of renewable energy solutions.

Total project value


Tonnes of emissions avoided




Result areas

Project timeline


26 Mar 2020 - 785 days

Concept note received

26 Mar 2020

Funding proposal received

24 Apr 2020

Cleared by GCF Secretariat

11 Feb 2022

Cleared by iTAP

11 Mar 2022


19 May 2022 - 504 days

Approved by GCF Board

19 May 2022

Legal opinion on AE's Internal Approval

09 Sep 2022

FAA executed

07 Apr 2023

Under implementation

04 Oct 2023 - 290 days so far

FAA effective

04 Oct 2023

Disbursement - USD 200,000

29 May 2024

Disbursement - USD 3,000,000

29 May 2024

To be completed

04 Oct 2033 - 3,364 days to go

One region

  • Asia-Pacific

One country

  • Financing
    • Private sector
    • Public sector
  • Size
    • Micro
    • Small
    • Medium
    • Large

GCF financing32% disbursed

GuaranteeUSD 9,000,000
GrantUSD 1,000,000
Total GCF Financing
USD 10,000,000


Co-FinancingLoanUSD 44,000,000
Total Co-Financing
USD 44,000,000

GCF Contacts

General media inquiries

GCF Communications
Send e-mail

Request for information

GCF Information Disclosure
Request information about this project

Project complaints and grievances

GCF Independent Redress Mechanism (IRM)
Phone +82 32 458 6186 (KST)
File a complaint

Integrity issues

GCF Independent Integrity Unity (IIU)
Phone +82 32 458 6714 (KST)
Send e-mail

Accredited Entity

JS Bank Limited (Pakistan)
Mr. Syed Jafar Raza

Group Head - Investment and International Banking
Phone +92 21-38907373
Mr. Shezad Abdullah

Head - Investment Banking Group
Phone +92 21-38907350
Phone +92 307 532 1823
More contacts

National Designated Authority

Ministry of Climate Change and Environmental Coordination
Mr. Zulfiqar Younas Primary
Additional Secretary I
2nd Floor, Ministry of Climate Change and Environmental Coordination, LG&RD Complex, G-5/2, Islamabad, Pakistan