Executive Vice President and CEO of International Finance Corporation (IFC) Jin Yong Cai, along with his team, called on Finance Minister Senator Ishaq Dar in Washington DC and discussed IFC’s programme portfolio in Pakistan.
Jin Yong Cai informed the finance minister that during the last two years the IFC had more than doubled its investments from $400 million to around $1billion, said a press statement issued on Friday.
He congratulated the finance minister on the successful issuance of Euro Bonds and observed that currently the capital was flying out of emerging market economies and despite the turbulence in capital markets the issuance of Euro Bonds reflects investors’ confidence in Pakistan economy.
Cai expressed interest in the divestment of shares in state-owned enterprises and stated that the IFC had participated in the recent divestment of shares of Habib Bank Limited. He said the IFC was keenly looking at the agricultural sector in Pakistan and observed that investment in smaller units in agricultural sector could increase their productivity and boost country’s exports. The EVP IFC observed that Chinese investment in infrastructure could lead to growth in all sectors of economy.
The finance minister thanked the EVP IFC for his personal interest in bringing investment in Pakistan. He briefed him about the latest macroeconomic indicators of Pakistan and shared the government’s plan for the inclusive growth and job creation.
The finance minister invited the EVP IFC to participate in the hydro-based energy generation projects in Pakistan and expressed hope that the IFC would provide financing to prospective investors for investing in Pakistan.
The finance minister was accompanied by Nasir Khosa, Executive Director World Bank, and Mohsin Chandna, Economic Minister Pakistan Embassy.
