Pak Investment (IFC-602167)

Countries
  • Pakistan
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Aug 20, 2018
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Pakistan's Board of Investment (BOI) and Sindh Board of Investment (SBOI)
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Project Cost (USD)
$ 3.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Oct 30, 2019

Disclosed by Bank Sep 4, 2019

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the bank website, "The main objective of the project is to support implementation of investment promotion improvement and relevant investment climate reforms to catalyze investment in Pakistan by: i) the removal of regulatory barriers to business entry and operations at national and subnational level, so as to unlock investment and employment opportunities, including for youth and women; ii) the increase in productivity of firms and labor, with initiatives including enhancing the linkages between firms at different stages of the productivity spectrum; these initiatives would also encompass foreign invested enterprises (FIEs); and iii) enhancing government to business service delivery and improved investment promotion. In order to achieve these objectives, both the federal and provincial governments will be supported to build institutional capacity to address two goals that will contribute to improved competitiveness and investment: - ongoing reform of existing policies, regulations and procedures; and - improvement of investment promotion and investor relationship management.

This technical assistance will focus on promoting evidence-based impact monitoring and evaluation, structured public-private engagement and national-subnational inter-agency coordination. These objectives will be addressed through activities under three thematic components, namely: i) Strengthening Investment Policy Framework and Supporting Investment Flows through Long-term Strategic Planning and Regulatory Reforms; ii) Strengthening Investment Attraction and Investment Assistance Framework; and III) Supporting Investment in Priority Sectors. Pakistan's Board of Investment (BOI) and Sindh Board of Investment (SBOI) are the main clients of the project. Other provincial Boards of Investment in Pakistan will participate in the project. Project implementation at the federal will be coordinated through BOI. Work at the sub-national level will be coordinated with the relevant Boards of Investment at the provincial level."

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Co-financing:

Prosperity Fund of UK Foreign and Commonwealth Office


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No project-specific contact information available at time of writing.

ACCOUNTABILITY MECHANISM OF IFC

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/

How it works

How it works