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Punjab Government & IFC World Bank Group jointly sign framework agreement at Lahore.

28 Dec, 2017

Punjab Government and International Finance Corporation (IFC), a member of the World Bank Group signed a ‘Framework Agreement on Advisory Services for PPP transactions’ held at P&D Complex, Lahore. Punjab and IFC has partnered to promote sustainable private sector investment and participation in the infrastructure and social sectors. IFC would assist Punjab’s PPP program by providing advisory services for identification of potential PPP projects, feasibility studies, project preparation and implementation. The IFC has offered consulting and advisory services for project development and implementation. With IFC’s extensive global experience in provision of advisory services, the Punjab PPP initiative would attract more foreign investors to extent the Government’s ambitious development agenda.

Addressing the Signing Ceremony, Secretary P&D Iftikhar Ali Sahoo stated that Public Private Partnerships would play a pivotal role in achieving the ambitious growth agenda of Punjab as Annual Development Program alone was not sufficient to meet all the development needs of the province.

At the occasion, Agha Waqar Javed Member (PPP/P&D Board) stated that Framework Agreement between Government of Punjab and International Finance Corporation (IFC) was yet another step towards achieving private sector led growth through Public Private Partnerships.

Nadeem Siddiqui (Country Manager IFC, Pakistan) said that IFC has advised various Governments on over 200 PPP projects which are now generating $11billion revenue for these governments.

 

Senior officials of Government Departments, Members of P&D Board, Mirza Khurram Baig (Investment Officer, PPP) and representatives of media also attended the signing ceremony.