IFC chief says it is doubling down on Pakistan, eyeing large infrastructure financing

KARACHI: Prime Minister Shehbaz Sharif on Friday urged the International Finance Corporation (IFC) to enhance its support in key sectors during a high-level delegation visit, weeks after the World Bank pledged $40 billion in assistance to the South Asian country.
The IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets.
The World Bank last month announced a decade-long Country Partnership Framework (CPF) for Pakistan, marking the unprecedented commitment, including $20 billion in sovereign lending through the International Development Association and the International Bank for Reconstruction and Development. The IFC will mobilize an additional $20 billion to spur private sector investments in Pakistan.
“The Prime Minister lauded IFC’s role in fostering private sector investments and expanding its portfolio in Pakistan,” said a statement circulated by Sharif’s office after the meeting with IFC Managing Director Makhtar Diop, who is leading the delegation. “He encouraged IFC to enhance its support under key areas including infrastructure and logistics, outsourcing of large airports, agriculture, information technology, mining, climate resilience, health care, and water & sanitation.”

“He also encouraged IFC to enhance collaboration with the private sector arms of other multilateral institutions for maximizing private sector participation in the development process and achieving greater impact,” the statement added.
The prime minister emphasized the need for export-led growth and called for the digitization of Pakistan’s economic ecosystem. He also highlighted ongoing digitization efforts within the Federal Board of Revenue (FBR) to streamline financial and economic processes.
Diop agreed with Sharif, according to the statement, by stressing the need for increased private sector investment in Pakistan’s road and power sector infrastructure, particularly transmission lines, airport services and wheat storage facilities such as silos to strengthen exports.
He also underscored the importance of private investment in water, health care and sanitation, with necessary social safeguards, to ensure sustainable economic growth.
The IFC official commended Pakistan’s engagement with the International Monetary Fund (IMF) and ongoing economic reforms. He noted that the government’s efforts to create an enabling environment for private sector operations had boosted investor confidence. He assured Sharif of the IFC’s continued support, aligned with Pakistan’s development priorities.
Earlier in the day, Diop and his team met with Finance Minister Muhammad Aurangzeb, who briefed them on Pakistan’s macroeconomic stability in terms of both debt and equity, as well as key structural reforms undertaken by the government, according to the finance ministry.
The World Bank’s lending program for Pakistan, set to commence in 2026, will focus on six core outcomes: improving education quality, tackling child stunting, boosting climate resilience, enhancing energy efficiency, fostering inclusive development, and increasing private investment.

KARACHI: Pace bowler Will O’Rourke claimed four wickets while Daryl Mitchell and Tom Latham hit half centuries as New Zealand defeated Pakistan by five wickets to clinch the tri-nations series final on Friday.
O’Rourke’s 4-43 helped the tourists dismiss Pakistan for 242 in 49.3 overs before Mitchell’s 58-ball 57 anchored the chase as the Black Caps finished on 243-5 in 45.2 overs at Karachi’s National Stadium.
The victory gives the New Zealanders a timely boost ahead of the Champions Trophy opener against the same opponents at this venue on Wednesday.
New Zealand lost opener Will Young in pacer Naseem Shah’s first over for five before Devon Conway (48) and Kane Williamson (34) steadied the chase with a second wicket stand of 71.

Williamson lost his wicket while charging down the wicket against spinner Salman Agha while Naseem returned for his second spell to dismiss Conway.
At 108-3 the tourists’ chase wobbled but Mitchell found an able ally in Latham (56) as the two added 87 for the fourth wicket.
When Mitchell fell caught and bowled off spinner Abrar Ahmed the tourists needed just 48 runs which Latham and Glenn Phillips (20 not out) reduced to ten.

Mitchell hit six boundaries in his knock while Latham’s 64-ball innings featured five fours.
Naseem was the pick of an otherwise ineffective Pakistan bowling attack with 2-43 off eight overs.
Earlier, spinners Mitchell Santner (2-20) and Michael Bracewell (2-38) backed up O’Rourke to ensure Pakistan did not post a big total.
Skipper Mohammad Rizwan top-scored with a 76-ball 46, while Salman Agha hit 45 off 65 balls as slow and variable bounce on the National Stadium pitch proved tough for batting.

Pakistan lost opener Fakhar Zaman to O’Rourke in the fourth over for 10 and then Saud Shakeel for eight.
Babar Azam looked good for his 29 runs, hitting four boundaries and a six, and reached 6,000 runs scored in one-day internationals when he was on 10.
He was playing his 123rd innings, the joint fastest to reach the 6,000-run milestone with South African Hashim Amla.

Azam fell to a miscued shot off Nathan Smith, leaving Pakistan struggling at 54-3.
Rizwan and Agha, who shared a match-winning 260-run partnership against South Africa on Wednesday, then revived the innings with an 88-run stand.

Rizwan hit four boundaries and a six but he and Agha fell within 19 runs of each other to end any hope of a challenging total.
Tayyab Tahir hit a 33-ball 38, also with four boundaries and a six, while Faheem Ashraf (22) and Naseem (19) added 39 invaluable runs to get Pakistan past 240.

Brief scores:
Pakistan 242 all out in 49.3 overs (Mohammad Rizwan 46, Salman Agha 45; W. O’Rourke 4-43) v New Zealand 243-5 in 45.2 overs (D. Mitchell 57, T. Latham 56; Naseem Shah 2-43)
Result: New Zealand won by five wickets
Toss: Pakistan