NBP inks MoU with PowerChina arm for green financing collaboration

According to Business Recorder, National Bank of Pakistan has entered into an MoU with PowerChina|Integrity Energy Storage (Shanghai) Technology Co. Ltd., a subsidiary of the PowerChina Group. The agreement, inked on October 12, sets out a framework for working together on SME, commercial and corporate lending, along with lead generation and cross-selling of banking products. Both parties will also explore green financing and other projects with sound commercial prospects, the bank said.

NBP said in a statement that the tie-up seeks to link prospective borrowers, especially firms active in renewable energy and energy storage, with its banking and financing solutions. They hope to pinpoint commercially viable deals that help businesses grow, the bank added. The collaboration is also expected to help NBP strengthen customer relationships and widen its business reach through cross-selling.