Karandaaz Pakistan Secures Green Climate Fund Accreditation at Songdo Board Meeting

Karandaaz Pakistan has secured accreditation from the Green Climate Fund, approved at the fund's 46th Board Meeting in Songdo, Republic of Korea, giving the organisation direct access to international climate finance. Business Recorder reported the approval on November 2, 2026.

Karandaaz Joins GCF Direct Access Network

Karandaaz Pakistan is a not-for-profit organisation founded in 2014 and headquartered in Islamabad that drives financial inclusion through wholesale MSME capital, digital public infrastructure, risk capital and grants to fintech innovators, and research. The accreditation brings it into the Green Climate Fund's global network of direct access entities.

According to Karandaaz, the accreditation will let it access, blend and channel global climate finance into initiatives aligned with Pakistan's Nationally Determined Contributions, National Adaptation Plan and Green Taxonomy. The organisation said it would use the partnership to mobilise private capital, de-risk climate-smart investments and support sectors vulnerable to climate volatility.

Achala Abeysinghe, Director of the GCF's Department of Investment Services, said Karandaaz brought strong knowledge of local financial markets to the fund's partnership network. "The GCF is committed to working with national institutions that can strengthen local markets, mobilise private investment and channel finance toward solutions responding to country priorities," she said.

Over the past decade, Karandaaz has worked to address financing gaps for climate-smart interventions in Pakistan through growth equity, debt and blended finance facilities. The organisation said its work has enabled micro, small and medium-sized enterprises to adopt resource-efficient technologies, expand clean energy solutions and build climate resilience.

Karandaaz's Financing Track Record

According to akta.pro company records, Karandaaz has leveraged more than PKR 87 billion in MSME financing through its supported facilities, a figure that includes its share in both debt and equity instruments. The same records show that Karandaaz-supported SMEs have generated more than PKR 135 billion in additional revenue, and that the organisation has provided more than PKR 1 billion in capital to 166 women-led enterprises, covering growth capital, COVID support, business development and capacity building.

Earlier Partnerships Across Agriculture and AI

In August 2026, Karandaaz partnered with Kissan Gudam, a venture of Hajisons Group, to develop digital financing and modern agricultural storage solutions for smallholder farmers in Pakistan, Business Recorder reported. In July 2026, Karandaaz entered a strategic partnership with D-Tech & Consultancy Private Limited to jointly develop My Intelligent Assistant, an AI-powered digital companion designed to help users navigate digital financial services platforms across Pakistan, Business Recorder reported. In June 2026, Karandaaz convened a strategic forum under its Women Economic and Digital Inclusion initiative, bringing together financial institutions, development partners and policymakers to address gender gaps, Business Recorder reported.

Waqas ul Hasan on the Accreditation

Waqas ul Hasan, Chief Executive Officer of Karandaaz Pakistan, described the accreditation as a transformative development for the organisation and green financing in Pakistan. He said stronger institutional ties with global financing facilities were needed to support sustainable and climate-resilient growth.