International Finance Corporation chief urges Pakistan to ensure macro-economic stability
The International Finance Corporation (IFC) has called upon Pakistan to strive for political and macro-economic stability, besides accelerating reforms, to unlock the private sector’s growth potential, doubling the investment-to-GDP ratio and ensuring prosperity in the long term. The IFC is set to mobilise about $560 million in co-financing with the United Kingdom for assisting the country in the fight against climate change and in making transition to a low-carbon economy. Ahead of his two-day visit to Pakistan, which begins today (Thursday), the IFC’s Managing Director Makhtar Diop told Dawn that his organisation — a commercial arm of the World Bank Group — was looking at high-impact investment cooperation in manufacturing, services, developing sustainable infrastructure, and encouraging telecom and technology start-ups.