IFC’s Managing Director Makhtar Diop Concludes Two-Day Visit to Pakistan

Islamabad, Pakistan, February 17, 2025—IFC's Managing Director Makhtar Diop has concluded a two-day visit in Pakistan, where he met with public and private sector partners to build on the momentum of IFC’s increased investments and impact in the country and reaffirm IFC’s commitment to continue advancing sustainable and inclusive private sector-led growth, boosting exports, and helping create jobs.

This was Diop’s first visit to Pakistan, following the official launch of a first-of-its-kind 10-year World Bank Group Country Partnership Framework (CPF), which will anchor joint efforts to address the country’s most pressing development challenges and serve as a roadmap for improving the country’s human capital development outlook, growing productive investments, and supporting key structural policy reforms.  

During his visit, Diop met with senior government officials including Prime Minister Muhammad Shahbaz Sharif and Minister of Finance, Muhammad Aurangzeb. He highlighted IFC’s continued support for private sector solutions to enhance exports, support small businesses and agricultural value chains, and improve infrastructure.

“IFC has been a steadfast partner of Pakistan for over 60 years. Over the last three years, we have tripled our investments, creating over 50,000 jobs,” said Diop. “We believe in Pakistan’s long-term potential and the power of its private sector as the engine that will drive its inclusive prosperity. Our aim is to invest $2 billion a year to fuel private sector growth and help mobilize additional capital, including through South-South investments.”

During Diop’s visit, IFC signed a landmark agreement with HBL Microfinance Bank to establish an $80 million risk sharing facility to enhance access to finance for microenterprises, smallholder farmers, and women borrowers. The Facility is supported by the Private Sector Window of the Global Agriculture and Food Security Program (GAFSP) and is ultimately expected to establish a more inclusive and resilient financial ecosystem in Pakistan by empowering underserved communities.

In addition, Diop met IFC partners from the financial sector, including Bank Alfalah and Standard Chartered Bank, to explore new collaboration opportunities to boost trade, address supply chain financing needs, and generate foreign exchange inflows. The common objective was to leverage innovative financial solutions in key areas such as green and digital banking to shore up smaller businesses and critical export sectors. He also met other key private sector players during two IFC-led roundtable discussions, which focused on enhancing the enabling environment for investments, unlocking exports, and supporting digital and sustainable infrastructure development.

IFC has invested approximately $13 billion in Pakistan since 1956, with a diverse range of projects supporting renewable energy, financial inclusion, infrastructure development, agribusiness, manufacturing, housing, healthcare, and trade, among others.