Islamic Development Bank establishes partnership agreement with Pakistan until 2025
A delegation from the Jeddah-based Islamic Development Bank has exchanged an engagement framework with Pakistani officials outlining strategic directions and priorities of the partnership with the South Asian nation until 2025.
Pakistan is one of the founding members of the bank and the
third-largest beneficiary of its financing.
"The two sides exchanged the IsDB’s Country Engagement
Framework (CEF) Document (2023-25), outlining the medium-term strategic
directions and priorities of the lender’s partnership with Pakistan up to
2025," reported APP.
Islamic
Development Bank grants $100 million to Pakistan for polio eradication
"The IsDB Group Country Engagement Framework is focused
on boosting recovery, tackling poverty, building resilience, and green economic
growth, which is in line with GOP’s vision and development priorities."
On the first day of its visit on Friday, the delegation met
with Minister for Economic Affairs Ahad Khan Cheema to discuss strengthening
partnerships and promoting development initiatives.
"He acknowledged the efforts of the President IsDB in
galvanizing international support for the floods 2022 affectees, by pledging $
4.2 billion," a press release said. "Both sides agreed that relations
can be further strengthened through mutual collaboration and partnership."
Cheema also witnessed the signing with the IsDB of a
financing agreement worth $200 million for the Sindh Flood Emergency Housing
Reconstruction Project.
Pakistan
secures pledges of $6.2bn from World Bank, Idb at Geneva conference
The project aims to construct 700,000 houses, benefiting an
estimated 4.2 million people in rural areas of the southern province, and will
support the creation of 75,000 water, sanitation, and hygiene facilities for
over 1.3 million individuals.
Source: Arab News