The International Finance Corporation (IFC), an arm of the World Bank, announced plans to invest $2 billion annually in Pakistan over the next ten years.
This $20 billion investment will focus on water-related projects, infrastructure development, energy, and ports.
IFC Chief Makhtar Diop met with Finance Minister Muhammad Aurangzeb to discuss the expansion of investments across various sectors.
During the meeting, Diop praised Pakistan’s Country Partnership Framework (CPF) with the World Bank, highlighting it as a global best practice.
Private sector stakeholders in Pakistan have expressed confidence in the Finance Minister’s policies and acknowledged the progress being made.
Diop reaffirmed IFC’s commitment to working closely with Pakistan and providing support in key areas such as green energy, data centers, agricultural supply chain improvements, the telecom sector, and digitization.
“This $2 billion annual investment is not a large number for Pakistan, which requires infrastructure development in international airports, energy, water, and ports,” Diop said, according to Reuters.
He added that by October, significant progress could be made on several transactions, signaling Pakistan’s readiness to receive large-scale financing for critical infrastructure.
The investment flows will begin following the World Bank’s approval of the Country Partnership Framework plan in January, which includes a $20 billion pledge alongside the IFC’s investment.