US announce $80mn Pakistan Private Investment Initiative

ISLAMABAD: The United States announced Friday the multi-year Pakistan Private Investment Initiative.

Drawing on public-private partnerships, this initiative will spur job growth and economic development by expanding access to capital for Pakistan’s small to medium sized companies.

“Pakistan has a wealth of talented entrepreneurs that desperately need capital to fully realize their potential. This initiative is an example of how the United States can move beyond traditional foreign assistance by playing a constructive role to help these entrepreneurs expand their businesses, provide new jobs to Pakistan’s fast-growing population, and improve lives.” said U.S. Chargé d’ Affairs in Pakistan Richard E. Hoagland.

Market-oriented, commercial solutions have been a priority for the United States in support of Pakistan’s economic development. The Pakistan Private Investment Initiative will generate investment funds catalyzed by U.S. assistance.

This initiative seeks private or other qualified sources of capital for matching investments and fund management services. The investment funds will make equity investments in promising Pakistani companies under-served by existing sources of capital.

The Pakistan Private Partnership Initiative welcomes proposals from qualified Pakistani, regional and international fund managers keen on investments in Pakistan by October 12, 2012, a release said.