Finance Minister Muhammad Aurangzeb met with a high-level delegation of the International Finance Corporation (IFC), the World Bank’s private investment arm, at the Finance Division on Monday.
The IFC delegation was led by Linda Rudo Munyengeterwa, Global Director for Public-Private Privatization & Corporate Finance Advisory of the IFC.
During the meeting, Munyengeterwa reiterated IFC’s commitment to Pakistan and expressed a strong interest in supporting the country’s macroeconomic reform, investment, and privatization initiatives.
The IFC delegation reaffirmed their willingness to “work closely with stakeholders in Pakistan, offering both advisory services and investment support aimed at achieving long-term and inclusive economic development”.
The delegation conveyed that they had come to Pakistan intending to explore the market and engage with key government stakeholders to identify potential areas for investment.
“IFC’s extensive global experience across various sectors, including infrastructure, energy, transport, public finance and privatization, was highlighted as a valuable asset that could be leveraged to support Pakistan’s development agenda.
“The delegation emphasized their readiness to partner with Pakistan in exploring viable opportunities for collaboration and investment,” read the statement.
Aurangzeb welcomed the IFC delegation and acknowledged the technical expertise and advisory support extended by the institution in various sectors.
He noted that macroeconomic stability had been largely restored in Pakistan and stressed the government’s commitment to maintaining this stability and ensuring long-term, sustainable economic growth.
The finance minister underscored the importance of utilizing the expertise and financial resources of international institutions like IFC through public-private partnerships.
“Such collaborations could facilitate the implementation of essential reforms and enhance efforts to develop efficient energy, transport, and infrastructure systems in response to the demands of a growing population,” he said.
In February, IFC announced plans to boost equity investments and target large-scale infrastructure financing in Pakistan.
In an interview with Reuters, IFC Managing Director Makhtar Diop revealed that this initiative could unlock up to $2 billion annually over the next decade.
American Dollar Exchange Rate