Prime Minister Muhammad Shehbaz Sharif has lauded the International Finance Corporation's (IFC) role in fostering private investments in Pakistan.

He was talking to Managing Director and Executive Vice President of IFC, Makhtar Diop, who called on him in Islamabad on Friday.

The IFC is the private sector investment arm of the World Bank Group.

The Prime Minister encouraged IFC to enhance its support under the key areas including infrastructure and logistics, outsourcing of large airports, agriculture, information technology, mining, climate resilience, healthcare and water and sanitation.

Shehbaz Sharif also encouraged IFC to enhance collaboration with the private sector arms of other multilateral institutions for maximizing private sector participation in the development process and achieving greater impact. The Prime Minister lauded IFC's role in fostering private sector investments and expanding portfolio in Pakistan.

He emphasized to focus on export led growth. He underlined the need for digitization of the entire echo-system of Pakistan's economy. Ongoing digitization efforts of the Federal Board of Revenue were also highlighted.

The Prime Minister appreciated the WBG's recently launched new decade-long Country Partnership Framework (2026-2035) with its unprecedented commitment of forty billion dollars. It would include sovereign lending of twenty billion dollars by the International Development Association (IDA) and International Bank for Reconstruction and Development (IBRD). IFC will mobilize another twenty billion dollars to foster private sector investments in Pakistan.

In his remarks, Managing Director and Executive Vice President of IFC, Makhtar Diop appreciated Pakistan's productive engagement with IMF and successful ongoing economic reforms. He assured the Prime Minister of IFC's continued support to the private sector in Pakistan duly aligned with the government's priorities.