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Prime Minister Muhammad Shehbaz Sharif met with Managing Director and Executive Vice President of the International Finance Corporation (IFC) Makhtar Diop and the private sector investment arm of the World Bank Group (WBG), to discuss IFC’s ongoing and pipeline portfolio in Pakistan.
Reportedly, Prime Minister Muhammad Shehbaz Sharif met with Managing Director and Executive Vice President of the International Finance Corporation (IFC) Makhtar Diop and the private sector investment arm of the World Bank Group (WBG), to discuss IFC’s ongoing and pipeline portfolio in Pakistan.
The meeting was attended by Deputy Prime Minister and Foreign Minister Muhammad Ishaq Dar, ,Finance Minister Muhammad Aurangzeb, Minister of Economic Affairs Ahad Khan Cheema, and senior officers of the Ministry of Finance and Economic Affairs attended
The Prime Minister appreciated the WBG’s for launching a new decade-long Country Partnership Framework (CPF) (2026-2035) with its extraordinary commitment of US$40 billion. It would include sovereign lending of US$ 20 billion by the International Development Association (IDA) and International Bank for Reconstruction & Development (IBRD). IFC will mobilize another US$ 20 billion to foster private sector investments in Pakistan.
The Prime Minister praised IFC’s role in fostering private sector investments and expanding portfolio in Pakistan.
He asked the IFC to enhance its support in the key areas including infrastructure and logistics, outsourcing of large airports, agriculture, information technology, mining, climate resilience, healthcare and water & sanitation.
He also asked IFC to enhance its collaboration with the private sector arms of other multilateral institutions for maximizing private sector participation in the development process and achieving greater impact.
Mr. Diop reciprocated the Prime Minister and highlight the need for increased private sector investments to improve the road and power sector infrastructure, especially transmission lines, airport services, wheat storage infrastructure including silos to enhance the private sector’s role in facilitating exports.
Mr. Diop commended Pakistan for its constructive engagement with the IMF and the successful implementation of ongoing economic reforms.
He noted that the government’s efforts, under the dynamic leadership of the Prime Minister, have fostered a favorable environment for private sector operations, boosting investor confidence.
He also reaffirmed IFC’s commitment to supporting Pakistan’s private sector in alignment with the government’s priorities.
It is worth mentioning here that the Prime Minister underlined the need to design various programs to foster human development especially the youth of Pakistan. He noted that the youth of Pakistan was provided skills training through various initiatives.