Pakistan plans to raise another ¥5.45 billion from China under its approved Panda Bond program after successfully issuing its first ¥1.75 billion bond in the Chinese capital market.
Finance Minister Muhammad Aurangzeb said the National Association of Financial Market Institutional Investors (NAFMII) has approved a total Panda Bond program worth ¥7.2 billion for Pakistan. With ¥1.75 billion already raised, ¥5.45 billion remains available for future issuances.
Speaking at the 2026 Asia-Pacific Climate Bonds Awards, Aurangzeb said Pakistan would return to China’s capital market as it seeks additional financing through further bond issues.
The inaugural three-year sustainable Panda Bond was issued at a 2.5% coupon rate, while investor demand reached three times the size of the offering. The successful issuance marked Pakistan’s first entry into China’s capital market and provided access to a new pool of international financing.
According to the finance minister, proceeds from the sustainable bond will support green and socially inclusive projects, particularly in the water, energy and health sectors.
The bond was issued under Pakistan’s sustainable financing framework and is aligned with the State Bank of Pakistan’s green taxonomy and the country’s climate prosperity plan.
