AIIB emphasizes commitment to Pakistan's development goals
Federal Minister for Finance and Revenue Muhammad Aurangzeb met with a
delegation from the Asian Infrastructure Investment Bank (AIIB) led by
Konstantin Limitovskiy, Vice President for Client Region and Project Finance
Global. The delegation visited the Finance Ministry to discuss the bank’s
ongoing support and future collaborations with Pakistan.
During the meeting, the AIIB team briefed the Finance Minister on the bank’s
portfolio of investments in Pakistan, which includes key projects in hydropower
generation, road and transport infrastructure, urban development, climate
resilience, and efforts to mitigate the adverse effects of pandemics,
conflicts, and climate-induced floods.
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The discussion also focused on the current status of AIIB-funded projects
and the potential shift in financing priorities, particularly from power
generation to strengthening the country’s transmission and distribution systems
to address surplus capacity and improve electricity evacuation.
AIIB representatives reiterated the bank’s strong partnership with Pakistan,
emphasizing their commitment to supporting the country's development goals.
They pledged continued policy and budgetary support to help Pakistan navigate
its climate challenges and strengthen its infrastructure.
Minister Aurangzeb expressed appreciation for the AIIB’s ongoing contributions
to Pakistan, particularly in funding and providing technical assistance for
disaster management and climate change adaptation. He noted the positive
progress of AIIB-funded projects and stressed the importance of improving
disbursement processes for timely project completion.
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The Finance Minister also referenced his recent meeting with AIIB President
Jin Liqun in Washington, where they discussed Pakistan’s interest in
diversifying its financing options. Aurangzeb highlighted the potential for issuing
a Panda bond with the AIIB’s partial guarantee to send a strong signal to
international markets, helping to attract further investment into Pakistan’s
infrastructure and development projects.
Source: Pro Pakistani