Karachi, July 23, 2013 (PPI-OT): Ms Elizabeth Littlefield, President and Chief Executive Officer of OPIC (US Overseas Private Investment Corporation) and Mr Richard Olson, United States Ambassador to Pakistan visited Karachi and met with business community during a briefing session on ““Mobilizing Private Capital for Growth in Pakistan” organized by US Consulate in collaboration with Trade Development Authority of Pakistan and the Sindh Board of Investment. OPIC offers investment and financing to Pakistani companies focused on infrastructure development, sustainable energy and other value added projects. The financing also covers small and medium Enterprises (SMEs).
Ms. Rabiya Javeri Agha, Secretary TDAP kicked off the session stating that Pakistan needs investment to cope with quality infrastructure and energy infrastructure challenges. She said that Pakistan faces numerous challenges in the development of sustainable energy generation, new nuclear carbon capture storage and renewable energy. She hoped that OPIC investment would help mobilize private capital to solve critical challenges and to catalyze jobs opportunities in Pakistan.
She also highlighted the role of TDAP in enhancing trade through investment promotion events and thanked the US Consul General of USA in Karachi in coordinating with TDAP to host GSP sessions which were directly broadcast from USA. She requested the US mission to use their good offices with US department of Commerce in Washington DC, USA to allow for more Pakistan made products to be included on the list of zero duty entry into USA.
Ms. Elizabeth L. Littlefield briefed Pakistani business community about the details of OPIC products and explained the parameters for such projects. Littlefield said that OPIC is working in more than 100 countries and it directs and guarantees loans for all kind of projects ranging from US$ 2 million to US$ 40 million. She mentioned that OPIC is already funding various expansion of Agha Khan University hospital for expansion besides, sapphire project and other Bio-Mass energy project.
For more information, contact:
Trade Development Authority of Pakistan
5th Floor, Block A, Finance and Trade Centre, Shahrah-e-Faisal,
Karachi 75200 Pakistan.
PABX: 92-21- 9206487-90