Focuses on opportunities to create economic growth and resilient and adaptable infrastructure in the wake of devastating climate impacts
ISLAMABAD, Pakistan – While in Karachi and Islamabad, U.S. International Development Finance Corporation (DFC) Chief Climate Officer (CCO) Jake Levine met with private sector leaders to discuss the wide-ranging impacts of the recent climate impacts on their businesses, including supply chains, and teams. CCO Levine held discussions with a wide range of Pakistani business leaders, including innovators in climate-smart agriculture, renewable energy, food security, as well as with senior government officials. His trip focused on exploring opportunities to create economic development and supporting flood-impacted regions.
In Karachi, CCO Levine met with the Leadership Committee of the American Business Council, followed by a roundtable discussion on climate finance with Pakistani banking executives. He next met with the CEO of Karachi Electric to discuss the need for infrastructure finance. He also led discussions with precision-farming tech entrepreneurs and venture capital and impact funds supporting emerging companies.
CCO Levine met with Trella, an innovative digital freight marketplace that is strengthening supply chains in Pakistan with support from DFC’s recent guaranty with AlmaVest. During the meeting, CCO Levine expressed gratitude for the company’s exemplary efforts to move goods to communities affected by the recent devastating floods and raise additional donations for the impacted population.
In Islamabad, CCO Levine signed two project commitment letters with Khushhali Microfinance Bank Ltd. Bank President Ghalib Nishtar and USAID/Pakistan’s Acting Mission Director Michael Rossman. These commitments will support small and medium-sized enterprises in underserved communities in remote areas, and will be deployed in the service of supporting women business owners and women-led teams. CCO Levine emphasized the outsized role of small businesses for creating jobs and economic growth in Pakistan.
CCO Levine also met with government representatives, including Minister for Energy (Power) Khurram Dastgir Khan, Minister for Planning Dr. Ashan Iqbal, and Climate Change Secretary Asif Hyder Shah. In the meetings, he expressed the United States’ solidarity with Pakistan in the aftermath of the devastating floods. He also discussed DFC’s commitment to investing in projects that help communities develop, support inclusive economic growth and employment, increase access to renewable energy, address the climate crisis, and increase food security.
U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.