Tag: IFC

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...

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...

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...

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...