American Ambassador announces availability of over $100 Million for Pakistan’s Private Sector
ISLAMABAD – U.S. government, in partnership with the Abraaj Group, Indus Basin Holding, and JS Private Equity Management, has made available over $100 million to invest in Pakistan’s private sector, through the Pakistan Private Investment Initiative, American Ambassador David Hale announced on Thursday.
“Our hope is that, by improving access to credit for first-time borrowers, we will break down barriers for creators and the innovators who will find solutions to the development challenges facing Pakistan and the world,” Ambassador Hale said. “I have no doubt that investing in Pakistan’s entrepreneurs will pay dividends for decades to come.”
The Pakistan Private Investment Initiative consists of three professionally managed investment funds that provide equity capital for Pakistan’s dynamic and fast-growing small- and medium-sized businesses. The U.S. Agency for International Development (USAID) has provided $24 million for each fund, and the Abraaj Group, Indus Basin Holding, and JS Private Equity Management will each match or exceed USAID’s contribution.
The Pakistan Private Investment Initiative is an innovative approach to identifying and investing in promising businesses, thereby helping them to expand their market share, introduce new product and service lines, and ultimately create jobs and increase incomes.
By working with the Abraaj Group, JS Private Equity Management and Indus Basin Holding, and the U.S. government is capitalizing on these companies’ expertise to make smart investment decisions that will create jobs, spur economic growth, and generate profits for investors.