Pakistan wants to diversify its financing base: Finance Minister

Minister for Finance Muhammad Aurangzeb has invited Asian Infrastructure Investment Bank to provide support in terms of program loan for dealing with the impacts of climate change and disaster preparedness.

He was talking to President of the Bank Jin Liqun in Washington.

The Minister also invited the Bank to invest in N-5 (GT Road) reconstruction project.

He acknowledged the Bank’s support to Pakistan, particularly in dealing with the aftermath of the devastating floods of 2022.

The Finance Minister mentioned his visit to China where he interacted with the management of Peoples Bank of China.

He said Pakistan wants to diversify its financing base and explore the possibility of issuing a panda bond with partial credit guarantee of AIIB.

Muhammad Aurangzeb said enlisting AIIB as an anchor to support the process would send out a strong signal to the market.

He expressed satisfaction over the progress of AIIB projects in Pakistan and emphasized further efforts to improve the disbursement of ongoing projects.

He Invited the President to visit Pakistan which he accepted.