Finance Minister Ishaq Dar has proposed to the International Finance Corporation (IFC) to work with the government to establish a new institution which will mobilize the long-term financing needs for infrastructure projects through the private sector in Pakistan.
Majority of equity for the proposed new institution may be provided by IFC and other International Financial Institutions (IFI) and multilateral organizations, while the government may be a minority shareholder.
The proposed new institution shall be a private sector led financing platform, supporting development across key sectors especially in infrastructure.
IFC has welcomed the finance minister’s proposal to establish a new institution focused on catalysing private sector financing and investment in infrastructure projects.
Dar said that the IFC has expressed a keen interest in working with the government of Pakistan to establish the proposed new institution and for IFC to provide equity funding for the institution.
He added that the IFC will, in due course, submit a detailing working on the new institution.
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