World Bank to invest in IT field through private sector -Pakistan Press Foundation (PPF)

Paksitan Press Foundtion

World Bank to invest in IT field through private sector

KARACHI- The World Bank will invest for development of Information Technology through the private sector in Pakistan.

This was stated by Investment Officer, International Finance Corporation (IFC), Daniel Crisafulli. IFC is a member of the World Bank.

He said that the World Bank intends to invest in IT in the private sector through IFC. In this regard the World Bank has made a Memorandum of Understanding (MoU) with the Soft Bank of Japan, a few months ago, for the allocation of more than 500 million dollars for development of the Third World countries. Out of this amount 20 million dollars Seed Money had already been disbursed, the IFC official added.

He said the IFC is also interested to invest in Pakistan directly in its private sector, explaining “that is the reason that I have come to study about the Pakistan IT market.
Source: The Nation
Date:11/18/2000