The International Finance Corporation (IFC), the World Bank’s private investment arm, is increasing capital investments and focuses on large -scale infrastructure financing in Pakistan.
According to the IFC head, Makhtar Diop, the investment plan could unlock up to $ 2 billion annually during the next decade. Diop’s visit to Pakistan follows the World Bank announcement of a country association frame of $ 20 billion for the country, with the IFC that coincides with this allocation.
Diop emphasized that the annual investment of $ 2 billion is not significant for Pakistan, which needs a wide infrastructure development in sectors such as energy, water, ports and international airports.
He expressed the confidence that in a few months, the progress in key projects will indicate the preparation of Pakistan to receive large -scale financing for critical infrastructure.
Pakistan, currently under a rescue program of $ 7 billion from the International Monetary Fund (IMF), is browsing a challenging economic recovery. The country avoided little breach of sovereign debt, with its insufficient reserves to cover even one month of imports.
The IFC exhibition in Pakistan reached a record of $ 2.1 billion for fiscal year 2024. Diop highlighted the interest of the IFC in sectors such as agriculture, infrastructure, finances and digital industries in Pakistan.
In addition, Diop said that capital -based transactions will play a more important role in the country’s development, since IFC increases its capital investments worldwide, even in Pakistan.
