Amid rising global food prices and against the backdrop of last year’s devastating floods, IFC is providing advisory services to help the government of Pakistan’s Sindh province attract private investment to build new grain storage facilities aimed at safeguarding future food security.
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.”
This 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 these facilities is vital to safeguarding future strategic grain reserves and ensuring food security for poor and vulnerable communities.