<article>Pakistan-based <a href="https://www.dealstreetasia.com/?s=Zorlu+Solar+Pakistan+Pvt+Ltd" target="_blank" rel="noopener">Zorlu Solar Pakistan Pvt Ltd</a> is likely to receive a loan of up to $25.6 million from <a href="https://www.dealstreetasia.com/?s=International+Finance+Corporation" target="_blank" rel="noopener">International Finance Corporation</a> (IFC), the private lending arm of the World Bank.</article>

Pakistan-based <a href="https://www.dealstreetasia.com/?s=Zorlu+Solar+Pakistan+Pvt+Ltd" target="_blank" rel="noopener">Zorlu Solar Pakistan Pvt Ltd</a> is likely to receive a loan of up to $25.6 million from <a href="https://www.dealstreetasia.com/?s=International+Finance+Corporation" target="_blank" rel="noopener">International Finance Corporation</a> (IFC), the private lending arm of the World Bank.
Zorlu is developing a project which consists of the construction, operation and maintenance of a 100MW solar photovoltaic power plant. The project will be located in the extension of the Quaid-e-Azam Solar Park in the Cholistan Desert in Punjab province, Pakistan.
Earlier also, IFC has financed two projects with Zorlu Enerji, including the 135MW Rotor Elektrik wind project in Turkey and the 56.4MW wind project in Pakistan.
In a disclosure, IFC said, &#8220;the project will help add new generation capacity and reduce the significant power supply deficit in Pakistan. It will also diversify the energy mix in Pakistan and help harness indigenous solar resource.
Since January this year, a number of Pakistani companies have attracted overseas investments including from the VC/PE space. Last month, Punjab Information and Technology Board (PITB) of Pakistan has partnered with US-based investment firm 1839 Ventures to launch a $20 million venture capital fund for the technology startups in Pakistan.
Prior to that, Abraaj Capital invested in Pakistan-based cinema operator Cinepax Ltd. In August, Malaysian telecommunications conglomerate Axiata Group Berhad, through its subsidiary edotco PK, completed its acquisition of Tanzanite Tower Private Limited (TTPL), a Pakistan-based firm that operates telecommunications towers.
Early this year, Dubai-based buyout fund The Abraaj Group invested an undisclosed amount in a Pakistani diagnostics chain Islamabad Diagnostics Centre (IDC).
IFC, an investment arm of World Bank Group, has disclosed 5,732 projects since its inception in 1994. It provides capital to companies across South Asia, Africa, Europe and other parts of the world.
Some of its recent investments include $41 million to India&#8217;s Ashiana Housing Ltd, $75 million loan to China&#8217;s CHG, $3.85 million to Mayanmar&#8217;s Mandalay river port project, and others.
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Pakistan-based Zorlu Solar Pakistan Pvt Ltd is receiving a loan of upto $25.6 million from International Finance Corporation (IFC).

IFC may extend $25.6m debt to Zorlu Solar Pakistan

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IFC may extend $25.6m debt to Zorlu Solar Pakistan

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