Finance Minister Shaukat Aziz will inaugurate the satellite office of International Finance Corporation (IFC) in the metropolis on Saturday, it was officially stated here on Thursday.
The IFC is the private sector financing arm of the World Bank Group which established its office in Islamabad in August 1990 with a diplomatic status.
The opening of office in Karachi is a part of expansion in IFC business plan in Pakistan.
According to available data, the total investment of IFC in Pakistan is estimated at about $1.6 billion on March 31, 2004.
IFC has held investment portfolios of $426 million in 31 companies, of which $325 million was from IFC's own account. About 44 percent of this investment is in the power sector.