According to the IFC, due to current status of Pakistan’s foreign exchange reserves, private companies in Pakistan are facing challenges in securing US$ denominated letters of credit to import essential raw materials and equipment for ongoing operations. Many companies are operating at reduced capacities and foreseeing shutdowns due to lack of inputs for production, which could lead to large scale job losses across industries in Pakistan. To address this critical and urgent issue, IFC proposes to make available an up to US$500 million in debt financing to select companies to finance their critical imports and related US$ expenses required for business continuity. The Project is sector agnostic and individual borrowers are expected to be top tier companies with leading market position in their respective sectors and strong credit standing.
Borrowers' details not available at the time of disclosure.
General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384
ACCESS TO INFORMATION
You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries
If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.
ACCOUNTABILITY MECHANISM OF IFC/MIGA
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org