InfraZamin Pakistan

What InfraZamin Pakistan does

InfraZamin Pakistan Limited is a Karachi-based, for-profit non-banking financial company (NBFI) established in November 2020 (operations commenced June 2021) as the first dedicated credit enhancement facility in Pakistan. The company issues partial and full credit guarantees — covering 50% to 100% of debt repayment risk — on local-currency (PKR) debt instruments issued by infrastructure project sponsors, enabling sub-investment-grade projects to achieve AAA-equivalent credit profiles and access longer-tenor, lower-cost financing from commercial banks and capital market investors.

The company's product suite spans Partial Credit Guarantees (PCG), credit-enhanced Sukuk structures (including Pakistan's first Green Sukuk for telecom with Infralectric, the first Agri-Infrastructure Sukuk with Sunridge Foods, and Pakistan's first AAA-rated Gender Bond with Kashf Foundation), Distributed Solar Financing Facilities (with Acumen Energy), and Guaranteed Trade Finance Facilities (with Jaffer Business Systems via HABIBMETRO). Underlying structures are Shariah-compliant where required and are arranged with capital market intermediaries such as Arif Habib Limited and listed on the Pakistan Stock Exchange (PSX). The facility is backed by equity from InfraCo Asia Investments (via Indus Guarantees Pte Ltd) and Karandaaz Pakistan, with contingent capital from GuarantCo — both entities operating under the Private Infrastructure Development Group (PIDG), funded by six European governments and the UK FCDO.

InfraZamin monetizes its guarantees through transaction-based commission fees that vary by borrower type and risk profile (not publicly disclosed, quote-based), targeting projects typically exceeding PKR 1.5 billion in guarantee requirements with a 4–6 month staged approval process. The go-to-market motion is enterprise field sales: direct deal origination with project sponsors, bilateral partnerships with commercial banks (HBL, HABIBMETRO, BOP, Bank Alfalah, Standard Chartered), regulator engagement (SECP, SBP), and event-driven origination through infrastructure summits and green financing seminars. To date, InfraZamin has mobilized approximately PKR 8.68 billion in private sector infrastructure financing, with PKR 6.5 billion in guarantee approvals in 2025 alone.

Name

InfraZamin Pakistan

Legal name

InfraZamin Pakistan Limited

Website

https://infrazamin.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

InfraZamin Pakistan is a Karachi-based NBFI that issues partial and full credit guarantees on PKR-denominated debt for Pakistani infrastructure projects, de-risking financing for project sponsors, commercial banks, and capital market investors.

Ownership category

akta.pro rank

Product category

Credit Enhancement Services

NAICS

Other Nondepository Credit Intermediation (52229)

SIC

Asset-Backed Securities (6189)

akta.pro primary industry

Private Credit — Structured Credit (CLOs, ABS, Private Securitizations) (FSAHAJAH)

akta.pro secondary industry

Emerging Markets Debt (Sovereign & Corporate) (FSAAAHAD)

Keywords

• Credit enhancement facility
• Infrastructure project guarantees
• Partial credit guarantees
• Sukuk credit wrapping
• Debt risk mitigation

Headquarters

HQ city

Karachi

HQ country

Pakistan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Guarantee Commission: InfraZamin charges guarantee commission on the guarantees it issues. The commission amount varies based on the type of borrower and the type of risk being mitigated. The commission is structured to not be a large cost of funding for borrowers, designed to develop the financing market while generating sustainable revenue.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

InfraZamin Pakistan provides credit enhancement guarantees for local currency (PKR) debt instruments issued by infrastructure project developers, covering between 50% and 100% of debt repayment risk to enable long-term financing from commercial banks and capital market investors. The company structures bespoke guarantee facilities across multiple asset classes including Partial Credit Guarantees, Green Sukuks, Gender Bonds, Agri-Infrastructure Sukuks, Distributed Solar Financing Facilities, and Trade Finance Facilities, targeting projects in renewable energy, telecom, agriculture, utilities, and digital infrastructure sectors.

Product overview

InfraZamin Pakistan is a first-of-its-kind credit enhancement facility in Pakistan, structured as a non-banking financial company (NBFI) authorized by SECP and acknowledged by the State Bank of Pakistan. The company provides credit enhancement and credit guarantee services for infrastructure project debt financing, covering 50% to 100% of debt repayment risk. The core product portfolio includes Partial Credit Guarantees (PCG) for de-risking infrastructure projects, along with specific financing instruments such as the Sunridge Agri-Infrastructure Sukuk (PKR 2 billion for agricultural storage and renewable energy), Guaranteed Trade Finance Facilities (PKR 800 million for digital infrastructure), the Gender Bond (PKR 2.5 billion, Pakistan's first AAA-rated gender bond for women's financial inclusion), Distributed Solar Financing (PKR 1.28 billion for renewable energy), and Pakistan's first Green Sukuk for Telecom (PKR 3 billion for telecom tower solarisation). The company focuses on sectors including renewable energy, water and sanitation, electricity generation and distribution, digital communication, health and education, agriculture, and transport infrastructure, with emphasis on projects aligned with UN Sustainable Development Goals.

Differentiator

Problem solved

Functional benefit

Brands

• Infrazaaviya: Research and newsletter publication focused on infrastructure investment in Pakistan

Products and services

• Credit Enhancement Facility Core credit enhancement facility offering guarantees on local currency (PKR) debt instruments for infrastructure project financing. Covers 50% to 100% of debt repayment risk for creditworthy infrastructure projects, enabling them to access long-term financing from commercial banks and capital markets at improved terms. Licensed as a Non-Banking Financial Company by SECP.
• Partial Credit Guarantee (PCG) Partial credit risk guarantee cover that de-risks the majority of credit risks for infrastructure project expansions, enabling lenders to provide long-term funding with extended tenors. Used for transactions such as the PKR 1,575 million Digital Infrastructure Facility guarantee with Multinet and HBL.
• Gender Bond Pakistan's first AAA-rated, fully guaranteed Gender Bond of PKR 2.5 billion, providing microfinance lending to approximately 30,000 women for micro-infrastructure development including rural school construction, flood rehabilitation, and expansion of women-led micro businesses. Issued for Kashf Foundation.
• Green Sukuk for Telecom Sector Pakistan's first Green Sukuk for the telecom sector - a PKR 3 billion Shariah-compliant Sukuk with 100% principal guarantee from InfraZamin. Proceeds support solarisation of telecom tower sites to reduce reliance on fossil fuels and cut carbon emissions for Infralectric Pvt. Ltd.
• Agri-Infrastructure Sukuk PKR 2 billion Shariah-compliant financing instrument issued by Sunridge Foods Limited (Unity Foods) for agricultural infrastructure development, including BMR initiatives, renewable energy installations (1 MW wind turbines and 0.5 MW solar plant), and construction of new silos and warehouses for wheat and rice processing capacity.
• Distributed Solar Financing Facility 11.5-year Distributed Solar Financing Facility of PKR 1.28 billion for Acumen Energy Limited, supported by PKR 1.04 billion credit guarantee. Enables development of approximately 12 MW of solar power projects across Pakistan, projected to save approximately 6,500 tons of CO2 emissions annually.
• Guaranteed Trade Finance Facility PKR 800 million Trade Finance Facility with InfraZamin's PKR 600 million short-term guarantee for Jaffer Business Systems (JBS), enabling expansion of digital and IT infrastructure solutions and supporting internet banking and digital wallets for financial inclusion.
• Digital Infrastructure Facility Guarantee PKR 1,575 million (US$7.6 million) partial credit risk guarantee cover on Digital Infrastructure Facility enabling Multinet to access 7-year long-term funding for expanding fibre optic network to underserved cities and populations, improving internet access for SMEs and reducing broadband costs.

Quantifiable outcome

• Capital charge savings for lenders under SBP Prudential Regulations
• +3 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

16 partnerships are on record, tiered core, flagship and minor.

• GuarantCo (PIDG)coreStrategic or Co-development PartnerContingent capital provider and conceptual partner in establishing InfraZamin. GuarantCo provides credit enhancement and local currency solutions to de-risk infrastructure projects globally. Has enabled US$5.8 billion of investments across 57 transactions in 22 countries, improving infrastructure access for 45 million people.
• The Bank of Punjab (BOP)flagshipStrategic or Co-development PartnerSigned MoU to jointly advance Pakistan's agricultural warehousing landscape. BOP and InfraZamin collaborating to develop portfolio guarantee framework and explore greenfield/brownfield infrastructure opportunities in agriculture, digital, affordable housing, water, sanitation, and renewable energy sectors.
• Pak Brunei Investment Company LimitedcoreStrategic or Co-development PartnerSecond strategic MoU signed to drive improvements in Pakistan's agri-storage and warehousing landscape. Collaboration focused on credit guarantee-backed financing for agricultural infrastructure development.
• Infralectric Pvt. Ltd.flagshipStrategic or Co-development PartnerPartnered to enable Pakistan's first Green Sukuk for the telecom sector - PKR 3 billion sukuk for solarization of telecom tower sites. InfraZamin providing 100% principal guarantee to support clean distributed energy and reduce fossil fuel reliance.
• Habib Metropolitan Bank (HABIBMETRO)coreChannel Partner/ Reseller/ DistributorPartnered to provide PKR 800 million Trade Finance Facility to Jaffer Business Systems. InfraZamin issued first short-term guarantee of PKR 600 million against the facility, enabling JBS to expand digital and IT infrastructure solutions.
• Sunridge Foods Limited (Unity Foods)flagshipStrategic or Co-development PartnerPartnership for PKR 2 billion Agri-Infrastructure Sukuk, Pakistan's first agricultural infrastructure sukuk. Proceeds fund BMR initiatives including renewable energy installations and new silos/warehouses for wheat and rice processing facilities.
• Kashf FoundationflagshipStrategic or Co-development PartnerPartnered to launch South Asia and Pakistan's first Gender Bond (PKR 2.5 billion). InfraZamin provides 100% principal guarantee enabling Kashf to access commercial capital for micro-lending to women entrepreneurs for rural infrastructure, schools, and flood rehabilitation.
• Saudi Pak Industrial and Agricultural Investment Co. Ltd.coreStrategic or Co-development PartnerPartnered for PKR 1.28 billion Distributed Solar Financing Facility for Acumen Energy Limited. InfraZamin provided PKR 1.04 billion credit guarantee for 11.5-year tenor, supporting approximately 12 MW of solar projects across Pakistan.
• Securities and Exchange Commission of Pakistan (SECP)coreStrategic or Co-development PartnerCollaborated on green financing initiatives and hosted seminars on 'Green Financing via Debt Capital Markets'. SECP has created enabling regulatory framework including Gender Bond guidelines and amendments facilitating credit enhancement structures.
• State Bank of Pakistan (SBP)coreStrategic or Co-development PartnerCollaborated on green financing and green bonds via credit enhancement solutions. SBP has introduced green banking guidelines and refinancing schemes for renewable energy (Rs. 94.7 billion disbursed by June 2024) and recognizes InfraZamin guarantees in prudential regulations.
• Pakistan Environment Trust (PET)minorStrategic or Co-development PartnerMoU signed to tackle Pakistan's environmental challenges by identifying, evaluating, and executing projects focused on reducing greenhouse gas emissions and promoting sustainable development including carbon credit monetization.
• Public Private Partnership Unit, Government of SindhcoreStrategic or Co-development PartnerMoU to provide local currency guarantee solutions for infrastructure projects in Sindh under PPP mode. PPPU manages portfolio valued at PKR 700 billion and was ranked 6th Best PPP Program in Asia by Economist Intelligence Unit's Infrascope 2018.
• Sindh Enterprise Development Fund (SEDF)minorStrategic or Co-development PartnerMoU to evaluate credit enhancement possibilities for infrastructure projects in Sindh including Agriculture, Green Energy, Seed Technology, and Education. SEDF provides mark-up subsidy while InfraZamin evaluates credit guarantee provisions.
• Habib Bank Limited (HBL)coreStrategic or Co-development PartnerMoU with Pakistan Mortgage Refinance Company (PMRC) to promote developer finance for affordable housing. Framework involves InfraZamin credit enhancement to partially mitigate credit risk while PMRC provides subsidized fixed-rate financing.
• British High Commission IslamabadcoreStrategic or Co-development PartnerCollaborates on green financing seminars and initiatives. UK FCDO funding supports InfraZamin through PIDG and Karandaaz. Development Director Jo Moir participates in seminars emphasizing climate resilience and decarbonization support.
• Pakistan Stock Exchange (PSX)coreChannel Partner/ Reseller/ DistributorGender Bond and other sukuk instruments listed on PSX. PSX supports green financing initiatives and offers book building system for debt market issuances. CEO Farrukh Subzwari endorses green financing efforts.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Market position

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/InfraZaminPK
• Facebookfacebook.com/InfraZaminPakistan
• LinkedInlinkedin.com/company/infrazamin-pak

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about InfraZamin Pakistan