ISLAMABAD: Pakistan and the International Finance Corporation (IFC) on Wednesday discussed expanding investment, infrastructure and creation of job opportunities in the country.
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held a meeting here with Simon Andrews, Divisional Director for Pakistan, Afghanistan and Central Asia at the International Finance Corporation (IFC).
Ms. Bolormaa Amgaabazar, World Bank Country Director for Pakistan, and Ms. Naz Khan, Country Manager IFC, accompanied Simon Andrews.
The minister welcomed Andrews on his recent appointment and appreciated the IFC’s enhanced engagement in Pakistan over the past few years, particularly in investment, trade, finance and advisory support. He acknowledged the positive impact of IFC’s onground leadership and responsiveness, noting that increased senior-level presence had significantly strengthened collaboration and delivery.
The IFC delegation briefed the minister on its growing portfolio in Pakistan, which now exceeds $2 billion annually, with approximately $2.7 billion committed this year.
Key areas of engagement include financial sector support through risk-sharing and guarantee facilities to promote trade and SME financing, expansion of local currency financing to mitigate foreign exchange risks and upcoming initiatives such as a diversified payment rights facility and a green bond issuance with a leading local bank.
The discussions focused on further scaling private sector investment, particularly in infrastructure and public-private partnerships. While progress has been made in areas such as urban water management and distribution efficiency projects, both sides acknowledged the need to develop a stronger pipeline of bankable projects and enhance coordination to unlock larger-scale private investment in sectors including energy, transport and logistics.
The minister emphasised the importance of adopting a client-centric approach to financing solutions, particularly in facilitating local currency lending to support private sector growth and reduce exchange rate vulnerabilities.
The meeting also covered collaboration on job creation, entrepreneurship and innovation, including proposals for developing a venture capital ecosystem and strengthening private sector engagement in policy formulation. Both sides discussed mechanisms to further institutionalise dialogue between government and business stakeholders to support effective and responsive policymaking.
