ISLAMABAD: The International Finance Corporation (IFC), a member of World Bank Group, will set up a business centre at the Wagah border, Lahore, to facilitate Pakistan-India trade, while the government of Pakistan has approved the project after clearance from security agencies.
The purpose of the project is to bring ease in trade between both the countries, besides developing a trade-friendly atmosphere for the business community and traders of Pakistan and India.
This centre is not only being developed at Pakistan’s side; a similar centre – following the joint agenda for trade facilitation – will be established on Indian land.
The IFC is of the view that the business centre would help tackle the problems being faced by the traders of both sides in boosting trade, as trade is the only string keeping together Pakistan and India despite a political strife between the two countries.
The IFC is an institution that is working in the private sector of as many as 100 developing countries of the world. The president of the World Bank also performs presidential duties of the IFC.
