Pakistan wants to diversify its financing base: Finance Minister

Washington: Finance Minister Muhammad Aurangzeb has invited the Asian Infrastructure Investment Bank to offer program loans to address the challenges posed by climate change and enhance disaster preparedness. He made this request during a meeting with Bank President Jin Liqun in Washington.

The Minister also encouraged the Bank to invest in the reconstruction project for N-5 (GT Road). He acknowledged the Bank’s support for Pakistan, especially in response to the severe floods of 2022.Pakistan textile exporters should explore emerging markets: President IAF

Aurangzeb mentioned his recent trip to China, where he engaged with the management of the People’s Bank of China. He expressed Pakistan’s interest in diversifying its financing options and exploring the potential for issuing a panda bond with a partial credit guarantee from AIIB.

He stated that involving AIIB as a key partner in this process would send a strong signal to the market. The Finance Minister expressed his satisfaction with the progress of AIIB projects in Pakistan and stressed the need for further improvements in the disbursement of ongoing projects.

He also extended an invitation to the President to visit Pakistan, which was accepted.