Field Coverage

Financing Industrial Development in Pakistan

1 January 1972

The Pakistan Industrial Credit and Investment Corporation Ltd. (PICIC), is one of the country's foremost financing agencies for industrial development. In 12 years of operation, PICIC has made a significant contribution to the growth of private industry in Pakistan and to the nation's economy as a whole. Its chief role has been channelling foreign exchange into sound industrial projects, and in this area it has made some 630 loans aggregating more than $325 million. While nearly 60% of its lending has been to the textile, jute and sugar industries, it is now attempting to diversity the range of its activities. The World Bank (IBRD) has been closely associated with PICIC since its establishment; in addition to its series of loans, the Bank's affiliate, the International Finance Corporation (IFC), is a shareholder in PICIC.
Workmen roll up the product for shipment at the United Carpets, Ltd., an enterprise entirely financed through an IBRD-PICIC loan.

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