New grain storage facilities: IFC to provide advisory services to Sindh government

International Finance Corporation (IFC), a member of the World Bank, announced on Monday that it will provide advisory services to the Government of Sindh, on attracting 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 multi-grain 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 assist Sindh in identifying 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 pert of the government's strategy to encourage private investment in developing grain storage infrastructure in Sindh. It will enhance food security end provide our farmers with modem 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 assisting Pakistan in enhancing its grain storage capacity by helping mobilise the private sector to improve agribusiness-related infrastructure in Pakistan. IFC is also assisting the government in its work to liberalise and develop the sector." 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.-PR