OPIC to increase Pakistan program portfolio following new government’s measures

The Overseas Private Investment Corporation, a U.S. development finance institution, is expected to double the size of its program in Pakistan. This was conveyed to Finance Minister Ishaq Dar, who met with  OPIC President Elizabeth Littlefield as a follow up to her recent visit to Pakistan, an aide to the visiting Pakistani senator said. The finance minister informed Littlefield and her team about the  government’s steps aimed at kick-starting national economy. These measures have restored investors’ confidence in Pakistan’s economy.  The president OPIC congratulated Finance Minister Dar on successful  approval of IMF Program which had revived US investors’ interest in projects in Pakistan.   She informed the Finance Minister that OPIC had a portfolio of about  $400 million in Pakistan.  However, after the approval of the IMF program and the introduction of investor-friendly policies, the size of program was expected todouble in near future. The OPIC, she said, was considering projects in Pakistan in the fields  of wind energy and food processing. Finance Minister Dar assured Littlefield that the investors would be  provided maximum facilitation and infrastructure support and no project would be delayed because of lack of ancillary support.