International Finance Corporation (IFC) Division Director Simon Andrews, accompanied by World Bank Country Director for Pakistan Ms Bolormaa Amgaabazar, called on Federal Minister for Economic Affairs Senator Ahad Cheema to discuss private-sector investment and development cooperation in Pakistan. Cheema welcomed the IFC's enhanced role in Pakistan over the past four years and appreciated the commitment to mobilise up to US$2 billion annually under the World Bank Group (WBG) Country Partnership Framework (CPF) for Pakistan (2026-35) over the next ten years.
He noted that Pakistan's priorities under this cooperation include small and medium enterprises (SMEs), public-private partnership (Pakistan Peoples Party (PPP)) projects and housing finance, alongside other sectors. The discussion emphasised the SME sector's role in Pakistan's economy. Andrews expressed the IFC's interest in the sector, and the federal minister welcomed this focus, noting that SMEs can play an important role in driving economic growth and creating employment.
He underscored the government's commitment to advancing Pakistan Peoples Party (PPP) projects in collaboration with international development partners. He outlined steps to strengthen the Public-Private Partnership Authority (P3A), including placing it under the Privatisation Division and preparing new legislation to expand its role. Under the proposed framework, the P3A would help ministries develop and promote projects, mobilise financing and regulate projects implemented through the authority.
The IFC and World Bank representatives appreciated the government's initiative to strengthen the Pakistan Peoples Party (PPP) framework. On housing finance, Cheema said the government is working to help people build their own homes and improve access to housing facilities. He added that the government is also considering ways to strengthen the institutional framework for housing finance.
Cheema invited the IFC to support efforts to expand housing finance, so that more people can access financing to build homes. He appreciated the IFC's support to Pakistan through technical assistance and financing, as well as the World Bank Group's wider contributions to the country's development. The IFC and World Bank representatives welcomed the government's priorities in SMEs, Pakistan Peoples Party (PPP) projects and housing finance, as well as its priorities in other sectors.
They reaffirmed their readiness to work with the Government of Pakistan on viable initiatives, providing technical assistance and financing to support quality projects.