Pakistan is set to raise another CNY 5.45 billion through Panda Bonds after Finance Minister Muhammad Aurangzeb confirmed that CNY 1.75 billion has already been raised under the country’s CNY 7.2 billion approved program.
Speaking at the 2026 Asia-Pacific Climate Bonds Awards, Aurangzeb said Pakistan’s first sustainable Panda Bond was issued for CNY 1.75 billion, while the National Association of Financial Market Institutional Investors (NAFMII) has approved a total program of CNY 7.2 billion.
This leaves CNY 5.45 billion available for additional issues in the Chinese capital market.
Aurangzeb said Pakistan intends to return to China’s capital market for further bond issuances as part of the broader program.
The inaugural three-year bond carried a 2.5 percent coupon and attracted orders equal to three times the amount offered, according to the finance minister.
He said the transaction marked Pakistan’s first entry into China’s capital market and created access to another major source of financing.
The sustainable bond proceeds will be directed toward green and socially focused investments, including projects related to water, energy and health.
Aurangzeb said the financing is also aligned with Pakistan’s sustainable financing framework, the State Bank of Pakistan’s green taxonomy and the country’s climate prosperity plan.
The finance minister made the remarks while accepting the 2026 Asia-Pacific Climate Bonds Award recognizing Pakistan as a pioneer sustainable sovereign Panda Bond issuer.
