Prince William, Kate kick off five-day Pakistan tour

Britain's Prince William and his wife Kate interact with students during their visit to a school outside Islamabad on Oct. 15, 2019. (AP)
Updated 15 October 2019
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Prince William, Kate kick off five-day Pakistan tour

  • Royal couple met PM Khan and President Alvi
  • Authorities deployed more than 1,000 personnel to ensure the royal entourage’s protection

ISLAMABAD: Britain’s Prince William and his wife Kate kicked off a five-day tour of Pakistan on Tuesday, amid much fanfare and tight security.
The Duke and Duchess of Cambridge met with the country’s President Arif Alvi, as well as the Prime Minister Imran Khan. The couple was scheduled to attend a cultural event later in the day.




Pakistan's Prime Minister Imran Khan, right, receives Duke and Duchess of Cambridge in Islamabad on Oct. 15, 2019. (PID)

Authorities deployed more than 1,000 police and paramilitary forces to ensure the royal entourage’s protection, setting up checkpoints and roadblocks in parts of the capital, Islamabad.
Alvi and his wife welcomed the royal couple, releasing a statement saying the president “commended” them for raising “awareness about mental health, climate change, and poverty alleviation.”
Prince William thanked the president for his warm welcome and hospitality extended to him and his entourage, the statement added.




Pakistani soldiers patrol in a parking lot of the hotel where British royal couple stays, in Islamabad on Oct. 15, 2019. (AP)

The royals were accompanied by British ambassador Thomas Drew, the Duke’s private secretary Simon Case, and Christian Jones, Communications Secretary to the Duke and Duchess of Cambridge, according to a government statement.
The royal couple’s first engagements were visiting a school for girls in the capital earlier on Tuesday, followed by a tour of the nearby national park at Margalla hills.
The Duke and Duchess of Cambridge, who are strong advocates of girls’ education, were greeted by teachers and children on their arrival at the Model College for Girls.
Wearing a royal blue traditional kurta and trouser, Kate sat with children in a classroom, as Prince William shook hands with a teacher.
According to the United Nations annual Human Development report, most Pakistani girls will drop out after primary school and on average go to school for seven years. Barely 27% of girls in Pakistan attend secondary school, the report said, compared to nearly 50% among boys.
Taliban militants in Pakistan violently oppose girls’ education and shot Malala Yousafzai — now a leading girls’ education global activist who attends Oxford University in Great Britain.
Militants in recent years have damaged girls’ schools in the northwest, including the Swat Valley which is the home of Yousafzai.
The royal couple arrived in Islamabad on Monday night.
William’s mother, Princess Diana, visited Pakistan in the 1990s to participate in a fund-raising event for a cancer hospital built by Khan, who took office last year. Diana died in a car accident in 1997 and many Pakistanis still remember her for her charity work.
On Tuesday, Pakistan’s information minister Firdous Ashiq Awan took to twitter, hoping the royal couple will return home with good memories at their visit’s end. She said the visit is taking place months after British Airways resumed flights to Pakistan, over a decade after they were suspended in the wake of a truck bombing of a hotel in the capital, which killed dozens.
Pakistan witnessed scores of acts of terrorism in recent years, though the security situation has improved recently.
For security reasons, authorities shared limited details about the royal couple’s itinerary, which is expected to include a visit to the country’s scenic northern provinces and the historical eastern city of Lahore.
 


IFC launches $120 million fund to boost Pakistan agri-value chain, support farmers

Updated 7 sec ago
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IFC launches $120 million fund to boost Pakistan agri-value chain, support farmers

  • Agriculture makes up 24 percent of Pakistan’s GDP, 40 percent of jobs
  • Funds will ensure steady fertilizer supply, sustain farmer programs

KARACHI: The International Finance Corporation (IFC) has launched a Rs33.6 billion ($120 million) fund to support financing from a foreign bank’s Pakistani subsidiary to a local fertilizer manufacturer to strengthen the country’s agri-value chain and support farmers, IFC said on Tuesday.

The funding will support long-term Pakistani rupee-denominated financing from Standard Chartered Bank Pakistan (SCBP) Limited to Engro Fertilizers Limited to strengthen Pakistan’s agri-value chain by mobilizing local capital, according to IFC.

It will help Engro Fertilizers make capital investments in maintenance of facilities and turnarounds, enabling uninterrupted supply of urea and other fertilizers to meet national demand as well as support farmer programs to complement its core mission of reliable production.

Ashruf Megahed, the IFC regional industry head for the Middle East and Central Asia, said the project will create new avenues for long-term local currency financing, supporting growth and enhancing financial resilience to manage risk in a sector critical to the nation’s economy.

“This investment reflects the strength of our partnership with Engro Fertilizers and Standard Chartered Bank and our shared commitment to provide innovative solutions to address challenges in a sustainable manner,” IFC quoted him as saying.

The investment, aimed at strengthening Pakistan’s agriculture sector and food security, is supported by a first-loss counter guarantee from the IFC-Canada Facility for Resilient Food Systems, according to the global finance corporation. It marks IFC’s first local currency investment in Pakistan.

“Engro has always strived to solve Pakistan’s most pressing issues meaningfully. Using local capital to strengthen local value chains reflects our commitment to the country and to our farmers — the backbone of Pakistan’s economy — through reliable fertilizer production,” Engro Fertilizers CEO Ali Rathore said.

“We are grateful to our partners, IFC and Standard Chartered Bank, for enabling us to advance this mission.”

Agriculture accounts for 24 percent of Pakistan’s gross domestic product (GDP) and 40 percent of employment, according to IFC. The investment will help address challenges such as inefficient supply chains, underfunded farmer programs, low literacy and rising input costs.

“At Standard Chartered, we are committed to financing solutions that enable sustainable growth and long-term resilience across Pakistan’s economy,” said SCB CEO Rehan Shaikh.

“This partnership with IFC and Engro Fertilizers reflects our shared vision of strengthening food security and supporting one of the country’s most critical value chains.”