Islamabad (TDI): International Finance Corporation (IFC) Managing Director and Executive Vice President Makhtar Diop has praised Pakistan’s productive engagement with the International Monetary Fund and successful ongoing economic reforms during his visit to the country.
In a meeting with Prime Minister Shehbaz Sharif, the IFC chief discussed the corporation’s ongoing and pipeline portfolio in Pakistan as head of the World Bank Group’s private sector investment arm.
Deputy Prime Minister and Foreign Minister Ishaq Dar, Finance Minister Muhammad Aurangzeb, Minister of Economic Affairs Ahad Khan Cheema, and senior officers of the ministries were also present in the meeting.
Diop underlined the need for increased private sector investments to improve the road and power sector infrastructure, particularly transmission lines, airport services, wheat storage infrastructure including silos to strengthen the private sector’s role in facilitating exports.
In order to have a healthy population for sustained economic development, the need of private investment in water, health and sanitation — with desired social safeguards was also emphasized at the meeting.
He said that government’s efforts to foster an enabling environment for the private sector operations in Pakistan has increased investors’ confidence.
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He assured the prime minister of IFC’s continued support to the private sector in the country.
The prime minister appreciated the WBG’s recently launched new decade-long Country Partnership Framework (2026-2035) with its unprecedented commitment of $40 billion.
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It would include sovereign lending of $20 billion by the International Development Association (IDA) and International Bank for Reconstruction & Development (IBRD).
The IFC would provide another $20 billion to foster private sector investments in Pakistan.
