Islamabad: The GB Invest Initiative was launched on Monday by the Pakistan Institute of Economic Development (PIDE) in collaboration with Reenergia, Rupani Foundation, and Karakorum International University (KIU). The launch took place at the National Press Club in Islamabad.

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The GB Invest Initiative, driven by the private sector, intends to mobilise private sector impact investments in Gilgit-Baltistan, enabling fair and sustainable development for the region’s people and the local economy while protecting the region’s distinctive ecosystem, according to a statement.

Between 2022 and 2023, about $100 million will be funnelled by connecting the private sector of the United Kingdom with investors from the resident and overseas Pakistani populations, as well as stakeholders from worldwide corporate, financial, development, and public sector organisations.

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The GB Invest Initiative will invite all stakeholders from the public and private sectors, as well as Pakistan’s civil society, to participate in a series of partner outreach programmes, including webinars and roadshows, shortly after the brand launch, leading to a GB invest conference in March 2022 at the KIU, according to representatives from the four partnering/collaborating organisations.

The event will highlight the United Kingdom’s unique capability for transforming socially responsible investments into equal economic opportunity.

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