International Finance Corporation Provides Up to $20 Million Investment to Pakistani Plastic Packaging Maker Novatex Limited.

The International Finance Corporation (IFC), part of the World Bank Group, announced on Friday that it will provide up to $20 million in financing to Novatex Limited, a plastic packaging manufacturer in Pakistan. The funding is intended to help Novatex import raw materials and machinery, thereby supporting the company’s export‑oriented production for food processing, pharmaceuticals and consumer goods. By securing a stable domestic supply of plastic packaging materials, the financing is expected to reduce reliance on imports, strengthen local supply chains and protect downstream industries from disruptions. The investment will also support employment and preserve export earnings, sustaining jobs within Novatex and the broader manufacturing sector. In line with IFC’s sustainability agenda, Novatex operates large‑scale polyethylene terephthalate (PET) recycling plants, and the new funding will help advance that initiative.