The Ministry of Energy (Power Division) signed on Monday a Transaction Advisory Services Agreement (TASA) with the International Finance Corporation (IFC), a member of the World Bank Group. As per a statement, the IFC will act as transaction advisor and conduct a comprehensive techno-commercial assessment “for a service-provider model or public-private partnership framework to support […]
International Finance Corporation
Rs 33.6 billion agri-chain financing announced
The International Finance Corporation (IFC) on Tuesday announced its first Pakistan rupee-denominated investment through an unfunded Partial Credit Guarantee of up to Rs 33.6 billion (about $120 million equivalent) to support long-term PKR financing by Standard Chartered Bank Pakistan Limited for Engro Fertilizers Limited, aimed at strengthening Pakistan’s agricultural value chain. This financing would enable […]
CDA, IFC sign deal to improve Islamabad’s water, sewage services
A signing ceremony for an agreement between the Capital Development Authority (CDA) and the International Finance Corporation (IFC), a member of the World Bank Group was held at the CDA Headquarters. The ceremony was attended by Federal Secretary Interior Muhammad Khurram Agha, Chairman CDA and Chief Commissioner Islamabad Muhammad Ali Randhawa, Member Planning and Design […]
World bank invests $300 million in Reko Diq mining project
The International Finance Corporation (IFC), the World Bank’s investment arm, has committed $300 million to Pakistan’s Reko Diq mining project. This significant funding aims to support the development of one of the largest untapped copper and gold reserves in the world. The project was restructured in 2022 and involves a partnership between the Pakistan government, […]
IFC appoints new Director for Middle East, Afghanistan, Pakistan
ISLAMABAD: The International Finance Corporation (IFC) has named Khawaja Aftab Ahmed as the Regional Director for the Middle East, Pakistan and Afghanistan. Ahmed will lead the institution’s efforts to help increase private sector participation in the economy to create jobs, address the climate crisis, close the infrastructure gap, foster financial inclusion, and support fragile and […]