Investment in Pakistan
ISLAMABAD: The International Finance Corporation (IFC) doubled its investment in Pakistan to $1.5 billion in short and long-term investment. The IFC, a subsidiary of the World Bank, announced this in a press statement issued today.
The IFC’s commitment marked a doubling of its investments from the previous year amidst a backdrop of economic challenges in the country.
IFC’s projects in Pakistan now focus on providing much-needed jobs and increasing productivity in the private sector. The projects also enhance gender inclusion, and addressing the impacts of climate change.
Zeeshan Sheikh, IFC Country Manager for Pakistan and Afghanistan, said, “Our investment and advisory programs over the last fiscal year showcased IFC’s commitment towards helping realize the significant potential of Pakistan’s private sector.”
He further stated, “Moving forward, we want to increase our focus on facilitating access to finance, particularly for MSMEs. It includes sustainable & digital infrastructure and export-oriented industries that create jobs, driving the country’s economic growth.”
In the past year, IFC directed its investments towards agriculture and healthcare. In the agribusiness sector, IFC provided working capital to support local farmers and distributors.
Additionally, IFC supported Alliance Healthcare in expanding its Northwest Teaching Hospital and Northwest General Hospital. It made it the leading private healthcare provider in Khyber Pakhtunkhwa province.
Alongside these initiatives, IFC bolstered its support to the banking sector. It strengthened manufacturing and export-oriented industries, and assist smaller businesses in fortifying their value chains.
IFC’s Public Private Partnership (PPP) Advisory unit is currently upgrading airports in Islamabad, Lahore, and Karachi. It is happening in partnership with the Pakistan Civil Aviation Authority. These pioneering airport PPPs are expected to transform the sector, maximize government revenue, and enhance public services.
IFC remains committed to evaluating new advisory and investment opportunities, including PPPs, in areas such as water, waste management, and sustainable infrastructure.
The goal is to identify and structure bankable projects that attract greater private capital.
Since its inception in 1956, IFC has invested $11 billion in Pakistan, spanning diverse sectors including renewable energy, financial inclusion, infrastructure development, agribusiness, manufacturing, housing, healthcare, and trade, among others.
