IFC Confident in Pakistan’s RE with $38.1M to Prove It

The World Bank’s financial arm, the International Finance Corp. (IFC), will invest $38.1 million in Zorlu Enerji Pakistan Ltd. for the construction of a wind power project in Sindh province. The 56.4 MW project represents the first internationally-financed wind power development in Pakistan. The $159 million wind park will also see help come from the Asian Development Bank, ECO Trade and Development Bank, and Habib Bank.

Pakistan has few international companies operating in the country and IFC’s contribution will garner more interest; however, since this type of project has not been undertaken in Pakistan before, it would be wise for potential investors to monitor the timeliness of project completion and government cooperation, among other indicators.

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