Islamabad: The International Finance Corporation (IFC) and the World Bank have reaffirmed their commitment to support Pakistan’s key development priorities through private-sector investment and cooperation. This was discussed in a meeting between IFC Division Director Simon Andrews, World Bank Country Director for Pakistan Bolormaa Amgaabazar, and Federal Minister for Economic Affairs Ahad Cheema.

According to Press Information Department, the discussions centered on the IFC’s enhanced role in Pakistan, with a commitment to mobilize up to $2 billion annually under the World Bank Group (WBG) Country Partnership Framework for the next decade. Focus areas include small and medium enterprises (SMEs), public-private partnerships (PPP), and housing finance.

The meeting emphasized the SME sector’s pivotal role in economic growth and employment. IFC expressed interest in this sector, which was welcomed by Minister Cheema. The Pakistani Government also outlined its commitment to advancing PPP projects and strengthening the Public-Private Partnership Authority (P3A) with new legislation. The IFC and World Bank representatives supported these initiatives.

Additionally, the Government’s efforts to improve housing finance access were highlighted, with Minister Cheema inviting IFC support to expand these efforts. The IFC and World Bank welcomed the Government’s priorities and reiterated their readiness to assist with technical and financial support for quality projects in Pakistan.