National Bank of Pakistan (NBP) has signed a Memorandum of Understanding (MoU) with PowerChina|Integrity Energy Storage (Shanghai) Technology Co. Ltd. (I²-ESS), a subsidiary of the PowerChina Group, to collaborate on SME, commercial and corporate financing and explore green financing opportunities in renewable energy and energy storage.
The MoU, inked on October 12, aims to establish a framework for collaboration in SME, commercial and corporate financing, lead generation, cross-selling of banking products and services and the exploration of future opportunities in green financing, NBP said in a statement.
“The MoU reflects a shared interest in exploring business opportunities by connecting prospective borrowers, particularly businesses operating in renewable energy, energy storage and allied sectors, with NBP’s banking and financing solutions.
“Through this collaboration, both organisations aim to identify commercially viable opportunities that support business growth and contribute to the development of sustainable energy-related industries,” it added.
The collaboration is further expected to create opportunities for cross-selling NBP’s products and services, enabling the bank to strengthen customer relationships and expand its business outreach.
In addition, both parties will explore potential collaboration in green financing and other commercially viable projects aligned with NBP’s strategic priorities and business objectives, said the bank.