Pakistan: Countries With Most Investments in 2020
The World Bank report for Countries with Most Investments in the first half of 2020 is out, and it shows that Pakistan is one of them!
Pakistan for the first time has become one of the five countries in the world to have the most investments in the first half of 2020, according to the World Bank.
“Pakistan had the fourth-highest investment commitments, a new entrant to the top five countries this year with $1.9 billion of investment commitments, accounting for 0.69 percent of GDP,” the Private Participation in Infrastructure (PPI) 2020 Half Yearly Report said.
Even though Pakistan was named as one of the countries to have the most investments, the report also stated that Pakistan’s Private Participation in Infrastructure was unprecedented due to the coronavirus, which has brought several sectors to a loss.
As 2020 began, multiple infrastructure projects worldwide had to be paused due to supply chain disruptions, travel and shipping restrictions, and other obstacles. The total costs in the first half of 2020 according to the World Bank was $21.9 billion across 128 projects in 34 countries, a decline of 56 percent from the same period in 2019. However, Pakistan still managed to gather the most investments in 2020.
Moreover, the Thar power plant in Pakistan and the pipeline in Mexico were the only two megaprojects across the world that could be financed and completed in the first half-year of 2020. The coal power project was developed under the supervision of the China-Pakistan Economic Corridor (CPEC). This was an effort by the government of Pakistan to improve energy security and reduce the average cost of power generation by transitioning from oil to coal.
The World Bank report stated that the South Asian Region (SAR) was the region with the second-highest H1 2020 investment level ($4.9 billion), driven by Pakistan ($1.9 billion), India ($1.8 billion), and Bangladesh ($1.2 billion). In the past few years, China has been an active infrastructure sponsor, speeding up slow progress on major infrastructure projects in South Asia, especially in Pakistan and Bangladesh. Due to which Pakistan was named as one of the countries with the most investments in 2020.
In the first half of 2020, the energy sector outperformed the transport sector, accumulating a staggering $15.1 billion across 73 projects. This accounted for 69 percent of global PPI investments. The transport sector received $4.5 billion across 17 projects, accounting for 20 percent of investment commitments in the first half of 2020. The water sector totaled $1.3 billion over 21 projects, and the municipal solid waste sector received $889 million across 17 projects. All of which made up for the most investments in Pakistan for 2020.
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