PIB to be established to provide infrastructure financing: Dar

556

ISLAMABAD, May 26 (APP): Minister for Finance, Muhammad Ishaq Dar on Friday said Pakistan Infrastructure Bank (PIB) will be established to provide infrastructure financing for commercially viable private sector projects.
This effort will be spearheaded by the IFC with a 20 per cent equity of the government through PDF while the remaining share will be private sector, he said this in his budget speech for year 2017-18.
The Bank is expected to assist in introducing innovative project financing tools such as building domestic infrastructure bond market and creating contingent financing products which include credit guarantees, credit default swaps, foreign currency liquidity facility and refinancing options.