Asad Umar hails US-DFC for investment in Pakistan

ISLAMABAD: Federal Minister for Planning, Development, Reform and Special Initiatives Asad Umar on Saturday appreciated the United States International Development Finance Corporation for its longstanding interest and continued investments in Pakistan.

With its expanded portfolio and available flexibilities, DFC could play an important role in financing public sector and public-private partnership projects in Pakistan, as well as key regional connectivity projects, a statement issued here said.

US International Development Finance Corporation (DFC) acting chief executive officer Dev Jagadesan called on federal minister at the Embassy of Pakistan in Washington DC.

The minister urged DFC to explore investment opportunities in the climate financing of the risk mitigating projects through the private sector in the country.

He also highlighted the immense potential for cooperation in fighting the Covid-19 pandemic, especially through procurement and production of vaccines.

Jagadesan briefed the minister on DFC’s mission and priorities, including its engagement in Pakistan and said that DFC was keen to work with the private sector entities interested in exploring business opportunities.

The two sides discussed the ways and means to enhance project-based cooperation. Both sides agreed to remain engaged in developing a portfolio of priority projects for further collaboration.