The Bank Of Punjab And Infrazamin Pakistan Sign Memorandum Of Understanding

The Bank of Punjab (BOP) and InfraZamin Pakistan Limited (InfraZamin) signed a Memorandum of Understanding (MOU) formalising areas of future cooperation and collaboration.

The MOU sets the framework for joint activities between BOP and InfraZamin to explore opportunities in infrastructure finance via credit enhancement instruments, development of a portfolio gurantee framework and evaluation of greenfield and brownfield opportunities in infrastructure projects. The MOU also seeks to consider international best practices for infrastructure financing via capacity building with a core objective of developing market readiness towards risk mitigation from credit enhancement of large scale infrastructure projects in various different sectors.

Mr. Farid Ahmed Khan, Group Chief -Corporate and Investment Banking speaking on the occasion said, "BOP is keen to contribute in this joint initiative through its client outreach, strong structuring capabilities and cross functional teams across the country in focussed sectors. We believe that our clients will benefit from new products developed under this venture and it will go a long way to serve under-represented clients in the financial sector”.

Maheen Rahman, CEO of InfraZamin commented, "We are keen to develop new concepts with BOP on portfolio guarantee structures and look to explore underbanked sectors such as agricultural warehousing, digitech, affordable housing, water, sanitation, renewable energy and so on Our joint capacity building initiatives aim to develop better market understanding on project risk via case studies on projects previously funded across emerging markets by our parent company the Private Infrastructure Development Group and Karandaaz Pakistan. InfraZamin’s capital capability can support over US$ 500 mn in guarantee issuance for Pakistan and reflects our Group’s commitment towards the country’s infrastructure needs”.