US Overseas Private Investment Corporation (OPIC) President and CEO Elizabeth Littlefield is visiting Pakistan this week to meet with business leaders, government officials and US companies investing in Pakistan. The OPIC delegation will also tour one of its investment projects, the Aga Khan Hospital and Medical Foundation in Karachi, which is known for its work on social welfare in Pakistan.
“The United States is committed to strengthening Pakistan’s economy, and with it, the prosperity of its citizens,” said Littlefield.
“OPIC has a long history of supporting US private-sector investment in Pakistan, and we look forward to seeing firsthand how the projects we support are building on past progress and paving the way toward a more prosperous future,” she added. Littlefield will meet with key business leaders and government officials to learn more about Pakistan’s investment climate and new opportunities for US investors to partner with Pakistani businesses. Recognising how critical the energy sector is to Pakistan’s long-term economic growth, OPIC will pay close attention to how it can best support investors willing to address this challenge.
“As the US government’s development finance institution, OPIC plays an important role in catalyzing private investment in Pakistan,” said US Ambassador Richard Olson. “OPIC President Littlefield’s visit builds on the successful US-Pak Business Opportunities Conference held Dubai last month, and clearly demonstrates that trade and investment are the future of the US-Pak relationship.”
The OPIC delegation will also visit the Aga Khan Hospital and Medical Foundation in Karachi, which is being renovated and expanded with the support of an OPIC loan.“The success of this project and many others that OPIC has financed in Pakistan show how private capital can be a force for good, supporting business and advancing development to improve the lives of ordinary citizens,” Littlefield said.
“We look for disciplined, like-minded partners who have local market knowledge, a commitment to sound and transparent business practices, and achievable goals to improve the lives of the Pakistani people,” she added. OPIC has invested in 123 projects in Pakistan since its formation in 1971.Its current Pakistan portfolio includes 14 active projects worth nearly $300 million in key industries including energy, health care, financial services for small- and medium-sized enterprises, and telecommunications.
