At a meeting in Islamabad with the International Finance Corporation’s (IFC) Managing Director, Makhtar Diop, Prime Minister Shehbaz Sharif recognized the IFC’s crucial role in encouraging private sector investment. To promote long-term economic growth, the prime minister singled out infrastructure, agriculture, information technology, healthcare, and climate resilience as priority sectors for the International Finance Corporation (IFC).
The ten-year Country Partnership Framework, which commits $40 billion to Pakistan over the next decade, was lauded by Shehbaz Sharif. Twenty billion of these funds will go toward projects run by private companies, according to the IFC. He highlighted the ongoing enhancements to the Federal Board of Revenue and Pakistan’s emphasis on export-led growth through automation of economic processes.
Makhtar Diop has spoken out in favor of more funding from the private sector for areas such as transportation, electricity infrastructure, and export facilitation. He lauded Pakistan for its investor-friendly policies and economic reforms. A pact was made between the government’s development goals and the IFC’s programs.
The two leaders also met with Mohamed Yahya, the UN Resident Coordinator, to talk about ways to work together more effectively on climate change and sustainable development. Pakistan will continue to fight climate change, the prime minister said, and he urged other countries to follow through on their climate finance pledges.
This string of summits demonstrates Pakistan’s commitment to promoting economic growth via international alliances and corporate sector cooperation.
