US DFC keen to expand investment footprint in Pakistan

The Chief Executive Officer (CEO) of the US International Development Finance Corporation (DFC), Benjamin Black, on Friday expressed keen interest in expanding the agency’s footprint in Pakistan, signalling the potential for deeper investment engagement.

The development came during his meeting with the Prime Minister Shehbaz Sharif in Washington D.C. today, read a statement. He was accompanied by Conor Coleman, DFC’s Head of Investments and the senior leadership of the agency.

During the meeting, Black also briefed on DFC’s strategic priorities and ongoing project pipeline, underscoring the agency’s intent to scale up its development financing initiatives in the country.

He highlighted that DFC was firmly poised – including in view of its recent reauthorization – to support economic development in partner countries.

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The prime minister appreciated the expanding economic partnership between Pakistan and the United States and recognised DFC’s crucial role in catalysing joint ventures between private enterprises of the two countries, essential to job creation and productivity enhancement.

Highlighting Pakistan’s fast-improving macroeconomic fundamentals, the government’s commitment to deepening structural reforms, and attractive investment climate, the prime minister invited DFC to enhance its financing for projects in the energy, mines and minerals, agriculture and IT sectors.

PM appreciated DFC’s portfolio of over $1 billion and pointed to the synergies between the economic priorities of both countries, which presented mutually-rewarding opportunities for enhanced B2B engagement.

The prime minister invited DFC to participate in the upcoming Minerals Conference in Islamabad in April.

PM Shehbaz invited Benjamin Black to visit Pakistan at his earliest convenience to explore mutually beneficial investment opportunities in Pakistan in various sectors of shared interest.