Islamabad (TDI): Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with a delegation from the Asian Infrastructure Investment Bank (AIIB) led by Vice President Konstantin Limitovskiy at the Finance Division on Monday.
The discussions focused on AIIB’s investment portfolio in Pakistan and the Bank’s commitment to advancing the country’s development objectives.
The AIIB delegation outlined its ongoing projects in Pakistan, which include initiatives in hydropower generation, road and transport infrastructure, urban development, and climate resilience.
Projects aimed at mitigating the impacts of pandemics, conflicts, and climate-induced disasters were also highlighted.
The delegation discussed the shifting focus from power generation to enhancing the transmission and distribution infrastructure, given Pakistan’s surplus generation capacity that requires efficient evacuation.
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During the meeting, AIIB representatives emphasized Pakistan’s strategic importance to the Bank and reaffirmed AIIB’s commitment to providing policy and budgetary support to help Pakistan address climate challenges and advance sustainable development.
Minister Aurangzeb acknowledged AIIB’s crucial role in supporting Pakistan’s climate and disaster resilience, expressing satisfaction with the ongoing projects and stressing the need to expedite their disbursement.
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Reflecting on his recent discussions with AIIB President Jin Liqun in Washington, the Minister mentioned Pakistan’s interest in issuing a Panda bond, with AIIB potentially offering partial guarantees to strengthen market confidence.
The meeting underscored AIIB’s role as a key development partner and Pakistan’s commitment to diversifying its financing options in collaboration with international financial institutions.
