Overseas Private Investment Corporation (OPIC), a US government agency, has decided to further expand its presence in Pakistan and other South Asian economies. OPIC plans a vigorous financing programme for the private sector where US based companies could contribute up to 25 percent, while local investors participation would be 75 percent as equity.
OPIC has appointed R A Sheikh and Company as loan originator for its project financing, corporate financing and real estate project financing programme in South Asia and the Middle East.
Talking to newsmen, the company chief executive Rashid Ahmad Sheikh said that there would be no need of bank guarantee, as project assets would be mortgaged, however, the project company should have a good business record.
"Preference for financing will be given to Small and Medium Enterprises (SMEs) especially to women entrepreneurs", he said, adding that the focus of the company would be agribusiness, engineering, infrastructure development, textiles, sugar, cement industries, real estate and housing projects, business development services, chemical projects, fertiliser projects, financial management services, import/ export and marketing management, and fuel grade ethanol.
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