Aurangzeb Welcomes IFC’s Recognition of Pakistan as Regional Hub

Washington: Minister for Finance and Revenue Muhammad Aurangzeb has welcomed the recent reorganization of International Finance Corporation (IFC) that upgrades Pakistan as a regional hub, describing it as a strong vote of confidence in the country’s economic potential. He made these remarks while meeting with Managing Director of the International Finance Corporation, Makhtar Diop, on the sidelines of the IMF-World Bank Annual Meetings in Washington.

According to Radio Pakistan, the Minister briefed the Managing Director IFC on progress in the Reko Diq project and expressed hope for the participation of the Export-Import Bank of Pakistan in the near future. Senator Muhammad Aurangzeb appreciated IFC’s continued support in sub-national Finance and Digital Payment Rights initiatives, as well as its advisory role in key sectors including pharmaceuticals, electric vehicles, and commodity exchanges.

On the occasion, the Finance Minister and the Managing Director IFC witnessed the signing of a Swap Agreement between the State Bank of Pakistan and the IFC.