US announces $80m investment initiative

Progra­mme to fund small and medium sized enterp­rises.


September 15, 2012

ISLAMABAD: The United States on Friday announced financial support worth $80 million for the Pakistan Private Investment Initiative, which will be spread over a few years, to promote economic activity in the country. Drawing on public-private partnership initiatives, the programme will spur job growth and economic development by expanding access to capital for Pakistan’s small and medium sized companies, said a statement issued from US embassy here today.

US Charge d’Affaires in Pakistan Richard E Hoagland, while commenting on the initiative, said: “Pakistan has a wealth of talented entrepreneurs who desperately need capital to fully realise their potential.” He said this initiative is an example of how the United States can move beyond traditional foreign assistance and play a constructive role in helping these entrepreneurs expand their businesses, provide new jobs to Pakistan’s fast-growing population, and improve lives.

Hoagland said that market-oriented commercial solutions have been a priority for the United States in its support of Pakistan’s economic development. He said the Pakistan Private Investment Initiative will generate investment funds catalysed by US assistance.

This initiative seeks private or other qualified sources of capital for matching investments and fund management services. The investment funds will make equity investments in promising Pakistani companies under-served by existing sources of capital.


Published in The Express Tribune, September 15th, 2012.

 

COMMENTS (5)

Butt | 11 years ago | Reply

Pakistan has been pro USA as long as they were were getting aid. Now Pakistan DOES NOT want aid nor investments. It is about time that Pakistan refuse this aid and investment back to them.

khan | 11 years ago | Reply @Salem:Dude, atleast show some gratitude.. US is not BOUND to give us any support. WE are beggars to the core, a blackhole for the world donation, where billions of foreign tax payer money is wasted every day. Why do you think an average american, german, french, should work and pay taxes, only to be wasted on people like us?? Learn to be grateful for whatever dollars thrown at us.
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