Lahore, Pakistan, January 2, 2018—IFC,
a member of the World Bank Group, has signed a Framework Agreement with
the Government of Punjab’s Planning and Development Department to help
the government identify and implement priority infrastructure and public
service project through public-private partnerships (PPP) and boost private
sector participation in the country.
Punjab is the main driver of Pakistan’s economy, accounting for the majority
of the country’s GDP. The Government of Punjab has prioritized greater
investment in the province’s infrastructure and services to sustain its
economic performance, create jobs, and improve public services. In order
to support Punjab’s infrastructure investment requirements, the Government
of Punjab has prioritized private sector participation in the province’s
infrastructure and services sector since 2010 when it adopted the Public-Private
Partnerships Act in Infrastructure and established the PPP Cell within
the Planning and Development Department. This Agreement will enable IFC
to support the Government of Punjab in achieving its infrastructure growth
plan through private sector investment.
Addressing the signing ceremony, Planning and Development Secretary, Mr.
Iftikhar Ali Sahoo stated that “PPP would play a pivotal role in achieving
the ambitious growth agenda of Punjab as annual development program alone
is not sufficient to meet all development needs of the province”.
“We are pleased to sign this framework agreement with the Government of
the Punjab to support their ambitions for the PPP program,” said Mr. Nadeem
A. Siddiqui, IFC Country Manager. “IFC will bring its global experience
in PPPs to help identify, prioritize, structure, and tender PPP projects
that support government priorities across a number of infrastructure and
Through financing and advisory services, IFC has been helping national
and municipal governments attract qualified private sector partners for
over 60 years. Over the last decade, IFC’s PPP Transaction Advisory team
has generated nearly $22 billion of private investment in infrastructure
in developing countries, and supported governments in improving essential
services such as power, transportation, healthcare, water, and sanitation
for 98 million people.
IFC—a sister organization of the World Bank and member of the World Bank
Group—is the largest global development institution focused on the private
sector in emerging markets. We work with more than 2,000 businesses worldwide,
using our capital, expertise, and influence to create markets and opportunities
in the toughest areas of the world. In FY17, we delivered a record $19.3
billion in long-term financing for developing countries, leveraging the
power of the private sector to help end poverty and boost shared prosperity.
For more information, visit www.ifc.org