Karachi, Pakistan, December 20, 2010—IFC,
a member of the World Bank Group, announced today it will provide advisory
services to help Government of Sindh in Pakistan attract private investment
to build new grain storage facilities aimed at safeguarding future food
IFC will advise the government on establishing public-private partnerships
(PPPs) to build multigrain storage facilities in the province capable of
holding up to 500,000 metric tons, which will improve the quality of stored
crops, and reduce wasteful losses.
IFC will help Sindh identify private sector investors to finance, design,
build, operate, and maintain storage facilities through a transparent and
competitive bidding process. Sindh is Pakistan’s second largest wheat
producing province, accounting for around 16 percent of the country’s
wheat grain – a staple crop vital for food security.
Naveed Kamran Baloch, Secretary of the Government of Sindh Food
Department, said, “This project is a key part of the government's
strategy to encourage private investment in developing grain storage infrastructure
in Sindh. It will help enhance food security and provide our farmers with
modern storage facilities. We hope it will also lead to improved access
to markets and financing.”
Nadeem Siddiqui, IFC Chief Regional Representative for the Middle East
and North Africa and Country Representative for Pakistan, said, “IFC is
helping Pakistan enhance its grain storage capacity by helping mobilize
the private sector to improve agribusiness-related infrastructure in Pakistan.
IFC is also assisting the government in its work to liberalize and develop
This initiative is timely given the flood crisis that has caused widespread
devastation in Pakistan and is the second such project IFC has recently
signed in the country. The government of Sindh has made building modern
grain storage infrastructure a priority because improving this infrastructure
is vital to safeguarding future strategic grain reserves and ensuring food
security for poor and vulnerable communities.
IFC, a member of the World Bank Group, is the largest development institution
focused on the private sector in developing countries. We create opportunity
for people to escape poverty and improve their lives—by providing financing
to help businesses employ more people and provide essential services, mobilizing
capital from others, and delivering advisory and risk-management services
to ensure sustainable development. In a time of global economic uncertainty,
our new investments climbed to a record $18 billion in fiscal 2010. For
more information, visit www.ifc.org.