Urooj Niazi 
ifc joins pakistan in boosting electric bikes and rickshaws
Pakistan partners with IFC to accelerate electric bikes and rickshaws
The International Finance Corporation (IFC) and Pakistan’s Ministry of Industries and Production signed a cooperation agreement to boost investments and facilitate the introduction of electric two- and three-wheelers in the market in Pakistan.
Important Steps for E-Bikes and Rickshaws
The collaboration is aimed at achieving the enhancement of road safety for investors, policy improvements, and the abolition of obsolete laws that impede the development of the electric vehicle (EV) sector.
With this approach, ifc will provide technical assistance to the key regulators in Pakistan, such as the Engineering Development Board, the National Energy Efficiency and Conservation Authority.
A Step Towards Cleaner, Greener Streets
In a statement, Haroon Akhtar Khan, Special Assistant to the Prime Minister for Industries and Production, gave a rousing endorsement on the need for supportive policies and clear regulations to boost local manufacturing and the common use of electric bikes and rickshaws on the roads of Pakistan.
Also, it was made clear that e-bikes, rickshaws, and electric buses should be prioritized in view of their popularity and importance in the daily lives of people.
A Market Ready for Change
Saif Anjum, secretary of the Ministry of Industries and Production, stressed the immense potential of this partnership. “With more than 23 million two- and three-wheelers already trodding our roads, we cannot ignore the need for cleaner transport,” he remarked. “This partnership with IFC can help in realizing our aspirations.”
Backed by Climate-Focused Funding
The funding for the project is provided by CIFPAK, a unique climate-aware financingg initiative operated by IFC with support from the UK Foreign, Commonwealth & Development Office. This is also part of a collaborative initiative between the IFC and the World Bank to attract private investment to green transport solutions all over Pakistan
