Umar urges US-based institution to invest in regional connectivity

ISLAMABAD: The United States International Development Finance Corporation (IDFC) can assist in financing regional connectivity projects of Pakistan, Federal Minister for Planning, Development and Special Initiatives Asad Umar has said.

“With expanded portfolio and flexibility, it can play a significant role in financing public sector and public-private partnership projects in Pakistan,” he said in a meeting with the Acting IDFC Chief Executive Officer Dev Jagadesan on Saturday.

Appreciating IDFC’s longstanding interest and continuous assistance in Pakistan, the minister urged the US-based institution to explore investment opportunities in areas of climate change through the private sector in the country.

He highlighted that there was immense potential to cooperate for eradication of the Covid-19 pandemic, especially through procurement and production of vaccines.

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On the occasion, Jagadesan briefed the minister about IDFC’s mission and priorities, including its engagement in Pakistan.

He shared that IDFC was keen to work with the private sector entities interested in exploring business opportunities.

The two sides discussed ways and means to enhance project-based cooperation.

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