ISLAMABAD: Pakistan has urged international partners to scale up concessional financing for developing countries, the country’s Press Information Department (PID) said on Sunday, citing an aide to Prime Minister Shehbaz Sharif.
The call was made by Sharif’s coordinator on climate change, Romina Khurshid Alam, while delivering Pakistan’s national statement at the 16th International Renewable Energy Agency (IRENA) Assembly in Abu Dhabi.
Pakistan has emerged as one of the world’s fastest growing solar markets, with 12 gigawatts (GWs) of off-grid and over 6GWs of net-metered solar capacity by the end of 2025. Last fiscal year, renewables accounted for a historic 53 percent of total electricity generation, according to Alam.
The prime minister’s aide stressed that affordable funding for developing nations is critical to accelerating their transition to clean energy and strengthening energy security amid rising climate and economic challenges.
“Alam reaffirmed Pakistan’s target of achieving 60 percent renewables in the power mix by 2030,” the PID said in a statement.
