IFC to invest $2.5 million to support tech startups in Pakistan

ISLAMABAD, Jul 31 (APP):The International Finance Corporation (IFC), a member of the World Bank Group, will invest $2.5 million in Sarmayacar, one of the first early-stage venture capital funds supporting tech-driven startups in Pakistan, to help boost entrepreneurship and spur economic growth. 
Of the total amount, $2 million is equity commitments from Startup Catalyst, IFC’s global programme that backs accelerators and seed funds in emerging markets, said IFC press statement, adding that through this initiative, the corporation supports startups that provide innovative solutions to development problems and create quality jobs.