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Thursday, 20 Jun 2013 4:27 pm
High 14 oC - Low 7 oC
New investment initiative launched with $80m US funding
Islamabad - The United States (U.S) announced on Friday the multi-year Pakistan Private Investment Initiative. Drawing on public-private partnerships, this initiative will spur the job growth and the economic development by expanding access to capital for Pakistan’s small to medium sized companies.
The U.S Chargé d’affaires in Pakistan Richard E. Hoagland said, “Pakistan has a wealth of talented entrepreneurs that desperately need capital to fully realize their potential. This initiative is an example of how the U.S can move beyond traditional foreign assistance by playing a constructive role to help these entrepreneurs expand their businesses, provide new jobs to Pakistan’s fast-growing population, and improve their quality of living.”
He said that the market-oriented, commercial solutions had been a priority for the U.S in support of Pakistan’s economic development. He added that The Pakistan Private Investment Initiative would generate investment funds catalyzed by the U.S. assistance.
He also said that this initiative was seeking private or other qualified sources of capital for matching investments and fund management services, while adding that the investment funds would make equity investments in promising Pakistani companies under-served by the existing sources of capital.
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