IFC setting up fund for entrepreneurs, startups

Finance Minister Muhammad Aurangzeb met Simon Andrews, Director of IFC for Pakistan, Afghanistan, the Kyrgyz Republic, Tajikistan and Turkmenistan, according to The Express Tribune. Naz Khan, IFC's Principal Country Officer for Pakistan, also attended the session. The talks centred on IFC's present and possible backing for private-sector growth, credit access and investment in the country.

Aurangzeb welcomed the partnership and said the government is prioritising entrepreneurs, small and medium enterprises, farm lending, low-cost housing and public-private partnerships. He linked these areas to better macroeconomic stability and rising investor confidence, which he said should be turned into more investment and capital formation. IFC outlined progress on a fund for entrepreneurs being built with relevant stakeholders, and shared updates on housing finance models for developers.

On agriculture, the talks covered IFC's AgriConnect initiative, which examines how better storage and electronic warehouse receipts could secure loans and draw private finance. IFC also described its work with provincial governments on water and power projects, including water quality, safety and metering across distribution companies. Both sides discussed local-currency lending and longer-term funding, and Aurangzeb said domestic resources need international development finance alongside them.