ISLAMABAD: Pakistan has been recognized at the 2026 APAC Climate Bonds Awards with the Pioneer Sustainable Sovereign Panda Bond Issuer Award for its inaugural Chinese Yuan 1.75 billion Sustainable Development Panda Bond, issued in May 2026, according to a statement from the finance minister's adviser Khurram Schehzad on Wednesday.
The Climate Bonds Initiative annual awards recognize global and regional leadership in mobilizing capital markets for climate solutions, with specific regional recognitions highlighting institutions, issuers, and transactions driving green and transition finance across the Asia-Pacific (APAC) region.
The Pioneer Sustainable Sovereign Panda Bond Issuer Award recognizes sovereign nations that break new ground by entering China’s onshore capital market using Panda Bonds, specifically structured as Sustainable Development Bonds.
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The finance adviser said, “The landmark 3-year bond, priced at a competitive 2.5% coupon, attracted demand exceeding 5 times more than the issue size.
“It opened access to a new and deep pool of institutional capital, diversifying Pakistan’s sovereign financing sources and strengthening Pakistan-China financial ties,” he added.
Schehzad further said the transaction was delivered through close collaboration among the Government of Pakistan, the Asian Infrastructure Investment Bank, the Asian Development Bank, Chinese authorities, financial advisers, underwriters and market participants, with proceeds supporting green and socially inclusive investments across water, energy and health.
He added that the recognition marks another milestone in Pakistan’s growing access to international capital markets, broadening its investor base, diversifying financing sources and mobilizing capital for sustainable development.
Finance Minister thanks
Federal Minister for Finance & Revenue Senator Muhammad Aurangzeb has thanked the Climate Bonds Initiative, Government of China, AIIB, ADB, investors, advisers, underwriters and all partners behind Pakistan’s landmark Sustainable Panda Bond and its global recognition, said in a separate statement on Wednesday.
He said that the award reflects more than a successful transaction; it marks Pakistan’s growing access to new pools of global capital, deeper international partnerships and continued progress towards diversified, market-based and sustainable financing.
He further said, "Pakistan is moving forward with greater stability, credibility and confidence, opening new markets and building stronger foundations for sustainable growth."