GB Invest Initiative launched

Islamabad : The GB Invest Initiative—a private sector-led initiative that aims to mobilise private sector impact investments in Gilgit-Baltistan, supporting equitable and sustainable development for the region’s people and the local economy while preserving the unique ecosystem—was simultaneously launched in Islamabad and Gilgit during a ceremony held at the National Press Club here Monday.

The initiative was launched by Rupani Foundation in partnership with Reenergia, Pakistan Institute of Economic Development (PIDE), and Karakorum International University (KIU). Around US $100 million will be channeled from 2022 to 2023 by connecting GB’s private sector with investors from resident and overseas Pakistani communities, as well as with stakeholders from global corporate, financial, development, and public sector organizations. The initiative will also attract and facilitate investments to channel socially inclusive, environmentally responsible, and economically viable growth across the following key sectors of investment, e.g., Tourism, Renewable Energy, Minerals and Mining, Trade and Commerce, Agribusiness, and Technology.

Addressing the media, representatives of the four collaborating organisations mentioned that the GB Invest Initiative will globally invite all stakeholders from public and private sectors, and Pakistan’s civil society, to participate in a series of partner outreach programmes, including webinars and roadshows, to be held shortly after the brand launch leading to a grand GB Invest Conference in March 2022, at Karakorum International University in Gilgit. This will be the first-of-its-kind convention for impact investors in the region.

The event will set the spotlight on GB’s unique feasibility for harnessing responsible investments into equitable economic opportunities for social prosperity while serving as an excellent networking platform for global, national, and regional stakeholders to foster collaborations and businesses.

The GB Invest Initiative and GB Invest Conference 2022 will be backed by the Board of Investment (BOI), speakers informed.