Pakistan and the International Finance Corporation (IFC) on Thursday reaffirmed their commitment to strengthening cooperation to mobilize private investment, support business growth and create sustainable economic opportunities, with a focus on promoting private-sector-led growth and employment generation.
ISLAMABAD, Oct 15 (APP): Pakistan and the International Finance Corporation (IFC) on Thursday reaffirmed their commitment to strengthening cooperation to mobilize private investment, support business growth and create sustainable economic opportunities, with a focus on promoting private-sector-led growth and employment generation.
The reaffirmation was made in a meeting between Federal Minister for Economic Affairs, Ahad Khan Cheema, and Managing Director of the International Finance Corporation (IFC), Makhtar Diop on the sidelines of the 2026 World Bank Group–IMF Annual Meetings in Bangkok.
On the occasion, Cheema highlighted Pakistan’s transition from macroeconomic stabilization towards sustainable growth, driven by productive investment, stronger exports, innovation and employment generation.
He acknowledged the visible progress in IFC’s engagement following the placement of Division Directors in Pakistan, noting that the enhanced presence had increased IFC’s visibility and strengthened its engagement with the government.
The Minister also appreciated IFC’s growing investment portfolio in Pakistan, which had expanded fourfold since 2022 to approximately US$3 billion in 2026.
He emphasized the need to develop clear criteria for prioritizing IFC investments in alignment with the government’s development priorities, directing resources towards sectors that contribute meaningfully to economic growth, job creation and export competitiveness.
He identified small and medium-sized enterprises (SMEs), housing finance, agriculture and public-private partnerships (PPPs) as priority areas for deeper IFC engagement. He sought IFC’s support in developing a comprehensive SME roadmap, strengthening SMEDA’s institutional capacity and expanding businesses’ access to finance.
In the housing sector, he emphasized the need to mobilize long-term private financing and risk-sharing instruments to expand affordable housing opportunities. He also encouraged greater engagement under the AgriConnect initiative, particularly in farmer financing, agro-processing, export-quality standards and private-sector wheat storage.
Highlighting the potential of PPPs to address Pakistan’s infrastructure financing needs, the Minister invited IFC to provide technical support to the Public Private Partnership Authority in developing bankable projects and identifying opportunities capable of attracting private capital.
On the occasion, Diop highlighted the importance of a comprehensive strategy for micro, small and medium enterprises (MSMEs) to support their growth and expand access to finance. Discussions also covered the proposed Fund of Funds which is envisaged to support start-ups and strengthen Pakistan’s entrepreneurial ecosystem.
The Minister emphasized that the success of the partnership should be measured not only by the capital mobilized, but also by the jobs created, exports generated, businesses strengthened and opportunities expanded for women, young people and smaller enterprises.
He called for closer coordination across the WBG to ensure that financing, technical expertise and institutional support translate into faster implementation and tangible economic gains.