Finance Minister Lauds AIIB’s Robust Engagement in Pakistan

Islamabad: Finance Minister Muhammad Aurangzeb has invited the Asian Infrastructure Investment Bank (AIIB) to align its engagement with Pakistan’s infrastructure priorities and strategic development focus. He extended this invitation during a conversation with the President of AIIB, Zou Jiayi, in Washington D.C.

According to Radio Pakistan, the Finance Minister expressed his appreciation for AIIB’s active involvement in Pakistan, which is reflected in their ongoing portfolio worth approximately $1.7 billion, with an additional $1 billion in the pipeline. Aurangzeb emphasized the importance of this collaboration and encouraged further alignment with Pakistan’s developmental goals.

During another meeting in Washington D.C. with representatives from S and P Global Ratings, Finance Minister Aurangzeb reaffirmed that Pakistan has consistently met its external obligations, including the recent repayment of $1.4 billion on its Eurobond in the current month. He underscored the significance of additional financial support from Saudi Arabia, which aims to bolster Pakistan’s external financial position. Furthermore, Aurangzeb conveyed confidence that Pakistan’s strengthened macroeconomic fundamentals and ongoing reform efforts could justify an upgrade in its credit rating.

In a separate engagement, Deputy Secretary at the US Department of the Treasury, Francis Brooke, met with Finance Minister Aurangzeb. During this meeting, the Minister outlined key investment opportunities in Pakistan’s minerals and energy sectors and informed the Treasury leadership about the progress and prospects in the regulation of digital and virtual assets.