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Karachi, Pakistan, April 12
,
2020
—IFC, a member of the World Bank Group, and Karachi Water and Sewerage Board (KWSB) of Sindh province have signed an agreement to rehabilitate and maintain a 100-million gallons per day (MGD) canal, a water treatment plant and a pumping station to improve the supply of water in Pakistan’s largest city.
The project will be the first public-private partnership (PPP) transaction in the water sector in Sindh province. According to the
International Monetary Fund
, Pakistan ranks among the 36 most water stressed countries in the world. Karachi, the capital of Sindh and the seventh largest city in the world with over 15 million people, is facing the brunt of this shortage, with an estimated shortfall of over 500 MGD of water.
“It is important to stop the water losses to increase water supply in Karachi,” said Syed Nasir Hussain Shah, Provincial Minister of Sindh for Local Government, Forests and Religious Affairs. “By bringing in the private sector to rehabilitate and fix supply issues, more people will have access to the water they need. The project will provide the framework for future water infrastructure projects.”
Over the past few years, the government of Sindh has garnered considerable support from the private sector, particularly in transport, health, and power sectors. With IFC’s assistance, it intends to attract participation in water infrastructure as well. In partnership with the UK government’s Department for International Development, IFC will advise and support the government of Sindh to develop this project and build its capacity to replicate and scale up the PPP model to attract more private sector interest.
“Water shortage in Karachi is a result of an inadequate water supply system and there is a need to upgrade the existing water supply facilities,” said Nadeem Siddiqui, IFC Senior Country Officer for Afghanistan and Pakistan. “Successful implementation of the project will demonstrate the viability of engaging private sector in the development of water supply infrastructure in Karachi and serve as a model for the future.”
The government of Sindh is currently engaged with the World Bank Group to facilitate infrastructure development in Karachi, including water and sanitation services. As part of this initiative, this project will support the provincial government to reduce water losses, improve water assets and increase water access to the city that has been described as the “Heart of Pakistan”.
About IFC
IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In fiscal year 2019, we delivered more than $19 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit
www.ifc.org
.
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