IFC to consider investing in Diamer Bhasha dam

IFC interested in privatisation of power distribution companies

WASHINGTON DC: International Finance Corporation Executive Vice President Yong Cai on Friday expressed interest in exploring investment in the Diamer Bhasha dam.

During a meeting with Finance Minister Ishaq Dar in Washington on Friday, the IFC were invited to consider investment in the dam.

Cai said that he will undertake risk profiling of the project and inform the government about it. He added that the IFC was quite interested in the privatisation of power distribution companies.

The IFC executive further said that they were investing $125 million in the 3 Gorges Company’s programme for developmental projects in South Asian countries, including Pakistan.

Cai assured Dar that IFC will continue supporting the $9 million programme aimed at the improvement of labor standards in Pakistan to meet the international labor standards and requirements.

Cai welcomed the idea of teaming up with the Pakistani government for the formation of a Buyers Forum in Islamabad later this year.