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Tag: IFC

IFC Boosts Private Sector in Pakistan with Record Trade Support, Landmark Advisory Projects

Business, English
Islamabad, August 03, 2022 (PPI-OT):IFC more than doubled its trade financing program in Pakistan in fiscal year 2022 to support critical imports and foster a resilient post-pandemic recovery. That work came alongside other milestone engagements to boost financial inclusion, bolster key sectors, like agriculture and retail, structure ground-breaking public-private partnership projects, and promote gender diversity. IFC invested and mobilized about $680 million in Pakistan in short- and long-term financing between July 1, 2021, and June 30, 2022. That included a record $485 million in commitments through IFC’s Global Trade Finance Program to enable the import of essential goods and services, more than double the amount of the previous fiscal year. IFC also invested the equivalent of $25 mil...

IFC, Pakistan’s Khyber Pakhtunkhwa Province Partner for Landmark Healthcare Project

Business, English
Peshawar, May 24, 2022 (PPI-OT):IFC signed an agreement today with the government of Khyber Pakhtunkhwa (GoKP) province to help arrange a landmark public-private partnership (PPP) for the construction of a state-of-the-art hospital with up to 500 beds in provincial capital Peshawar. Peshawar’s population has increased by 52 percent over the last two decades. That has increased stress on the city’s healthcare facilities, which have been further exacerbated by the pandemic and an influx of patients from surrounding districts and neighbouring Afghanistan. Under the agreement, IFC, a member of the World Bank Group, will support the government of Khyber Pakhtunkhwa in structuring the PPP transaction. IFC’s team will also assist the government in running a transparent, competitive bidding proces...

International Finance Corporation Supports BioE to expand access to low-cost vaccines in developing countries

Business, English
Islamabad, December 17, 2020 (PPI-OT): An investment in one of India’s top vaccine manufacturers, Biological E Limited (BioE), will expand access to low-cost vaccines for children in developing countries and help increase production of a COVID-19 vaccine when developed, a key step in saving lives and restarting economies. IFC, a member of the World Bank Group, is providing a senior loan of up to $30 million to BioE to support the Hyderabad-based company’s expansion of its range of low-priced, generic vaccines for routine immunization of children. Furthermore, the financing package aims to support the production of new vaccines and boost the company’s capacity for manufacturing any future COVID-19 vaccine. BioE, an IFC client since 2017, primarily supplies its vaccines to developing countri...

IFC Helps Businesses in Poorest Countries Fight Pandemic with $4 Billion in COVID-19 Financing

Business, English
Islamabad, November 02, 2020 (PPI-OT): IFC’s pandemic response is focused on reaching the most vulnerable people in developing countries. Of the $8 billion in IFC COVID-19 fast-track financing approved by the IFC Board in March 2020, $4 billion has been committed to date, of which close to half is expected to benefit people in the poorest countries and fragile states, with the remainder helping to support the fight against COVID-19 across other developing countries and emerging markets. “Supporting the private sector will be crucial to helping developing countries achieve an inclusive, sustainable and resilient recovery and stem the current rise in extreme poverty,” said World Bank Group President David Malpass. “Our goal with IFC’s fast-track COVID-19 facility is to provide needed liquidi...

IFC Supports BOI in More Proactively Targeting Investors

Business
Islamabad, September 08, 2020 (PPI-OT): Moves are now underway to target investors to key sectors in Pakistan’s economy including auto and auto part manufacturing, food and beverages, information technology, logistics and textiles, as part of a bid to spur new jobs and help in the recovery post COVID-19. The International Finance Corporation, IFC, the largest development organization working with the private sector in emerging markets, is working with Pakistan’s Board of Investment, BOI, in the push to attract investment and reduce the most immediate, short-term implications of COVID-19, It follows the recent launch of BOI’s Investment Promotion Strategy, centered on investor-targeting, generating reinvestment and linking foreign direct investment, FDI, to the domestic private sector to he...