ISLAMABAD: The Intern­ational Finance Corporation of the World Bank more than doubled its trade financing programme in Pakistan this year to support critical imports and foster a resilient post-pandemic recovery.

The IFC invested and mobilised about $680 million in Pakistan in short- and long-term financing between July 2021 and June 2022 which included a record $485m in commitments through IFC’s Global Trade Finance Programme to enable the import of essential goods and services, more than double the amount of the previous fiscal year, the IFC says.

The finance corporation also invested the equivalent of $25m in Pakistani rupee for an equity stake in leading fashion retailer to create jobs, promote gender equality and support the crucial textiles sector.

The trade financing came alongside other milestone engagements to boost financial inclusion, bolster key sectors, like agriculture and retail, structure groundbreaking public-private partnership projects, and promote gender diversity.

Published in Dawn, August 7th, 2022

Opinion

Elite politics

Elite politics

For most part, Pakistan’s fractious politics has seen fierce govt-opposition conflict and mutual efforts to upend each other.

Editorial

Extension legacy
Updated 05 Dec, 2022

Extension legacy

The practice of having individuals carry on well beyond their time is up.
Dodging accountability
05 Dec, 2022

Dodging accountability

A WARNING carried in these pages in August appears to have gone completely unheeded. Months ago, as the government...
Double standards
05 Dec, 2022

Double standards

IN a globalised world, if states fail to protect the human rights of their citizens, or worse, participate in ...
Retracted offer
04 Dec, 2022

Retracted offer

WITH so many U-turns under his belt, it was hardly surprising when on Saturday, PTI chairman Imran Khan decided to...
Embassy attack
Updated 04 Dec, 2022

Embassy attack

The Taliban should have enhanced the existing security arrangements.
Smog season
04 Dec, 2022

Smog season

FOR the past week, major cities of Pakistan have been among the top most polluted cities in the world. Lahore ranked...