ISLAMABAD: The International Finance Corporation (IFC) has committed over $5.6 billion of cumulative investment in Pakistan, including $611 million in mobilisation.

Pakistan represents IFC’s largest country exposures in the Middle East and Northern Africa region, Pakistan Country Snapshot by World Bank said here on Wednesday.

IFC’s current committed investment exposure in Pakistan amount to $1.2bn in 47 companies.

In FY15, the IFC committed new investments of over $1.2bn including mobilisation of $298m.

This includes $782m in long-term investment and over $430m in short-term trade finance. The largest commitments, about $475m, were made in the power sector.

IFC also made commitment for two wind power projects of 50 MW each to Gul Ahmed and Dawood TGL.

In the financial sector, IFC supported the divestment of government share in the largest bank, Habib Bank Limited, through an equity investment of $75m, as well as committed of $150m debt.

IFC also committed $67m equity investment in Bank Alfalah to support the bank’s growth and expansion of credit to the SME sector.

Published in Dawn, March 17th, 2016