Remarks by U.S. Ambassador Blome at the Investment Roadshow by USAID Pakistan Private Sector Energy Activity
Assalaam-o-Alaikum and Good Morning!
It’s with great pleasure that I welcome you all here today to the second Cleantech Sector Investment Road Show organized by the USAID Pakistan Private Sector Energy project.
Since our last roadshow in Karachi in May of 2023, we have mobilized over $30 million in new cleantech investments, which promise significant improvements in Pakistan’s energy market. As you just heard, more encouraging developments are on the horizon.
Amid shared global challenges such as climate change, resource scarcity, and environmental degradation, Pakistan’s cleantech sector stands out as an example of real innovation. This sector is vital for creating sustainable solutions that not only mitigate environmental impact but also unlock new opportunities for economic growth and prosperity.
Investing in clean energy and low-carbon technologies is crucial to achieving the government’s ambitious renewable energy goals. These investments will not only reduce greenhouse gas emissions, but also mitigate the long-term effects of climate change.
Green growth requires a supportive policy and regulatory environment, which is why we continue to support improvement in those areas. We commend the Pakistani government’s reform initiatives, such as efforts to develop a wholesale competitive energy market. I urge you to stay engaged on this priority because market development will bring more opportunities for private investment and leadership, and competition will fuel market growth.
All of us — investors, entrepreneurs, policymakers, and advocates play a vital role in driving the cleantech revolution. We must continue to support and invest in Pakistani talent, fostering the brilliant minds and bold ideas that will shape our future.
The United States and Pakistan have a long history of working together to solve development and humanitarian challenges and just as the Green Revolution improved the quality of life for Pakistanis starting in the 1960s, today, we’re making strategic investments in clean energy, water, and agriculture to help better position Pakistan for the future through the U.S.-Pakistan “Green Alliance” framework.
Together, by leveraging $1.5 billion in private sector investments, we’ve connected 780 megawatts of wind power to the national grid, significantly reducing carbon emissions. Our support also facilitated deals for 910 megawatts of clean energy, securing over $900 million in private investments through technical assistance and loan guarantee programs. These achievements not only mark significant progress towards a sustainable energy future but they also lay the groundwork for continued innovation and growth in the renewable energy sector.
And we want to do so much more, in partnership with this community. This roadshow will showcase some of the most promising cleantech innovations, connect investors with visionary entrepreneurs, and foster collaboration that will accelerate the transition to a cleaner, greener world.
When you leave today, I ask you all to remain committed to the spirit of today’s event. Let’s grow these markets for Pakistan’s, and the world’s, benefit. Let us remain dedicated to driving positive change, not just for ourselves, but for the generations to come.
So, thank you all for being here today. It is wonderful to see you all.
Editor: Kamran Raja