ISLAMABAD: The International Finance Corporation (IFC) is significantly increasing its investments in Pakistan, with its annual portfolio now surpassing $2 billion, according to recent discussions between Simon Andrews, Divisional Director for Pakistan, Afghanistan and Central Asia at IFC, and Finance Minister Muhammad Aurangzeb.

According to Radio Pakistan, Andrews met with Aurangzeb in Islamabad, where the IFC delegation provided updates on the organization’s activities in Pakistan, including a commitment of approximately $2.7 billion this year. This increased engagement was met with appreciation from the Finance Minister, who highlighted the IFC’s contributions in the areas of investment, trade, finance, and advisory support over recent years.

The meeting centered on the potential for expanding private sector investments, with a particular focus on infrastructure projects and public-private partnerships. Aurangzeb stressed the need for a client-centric approach to financing, advocating for local currency lending to bolster private sector growth and mitigate exchange rate risks. He noted that such measures are designed to complement foreign currency inflows and are crucial for achieving sustainable economic growth.