Islamabad, In a significant boost to bilateral development cooperation, the Asian Infrastructure Investment Bank (AIIB) has agreed to enhance its collaborative efforts with Pakistan. This agreement focuses on key areas such as poverty reduction, climate change mitigation, innovative financing instruments, and the advancement of Sustainable Development Goals (SDGs).

According to Ministry of Information and Broadcasting, this commitment was solidified during a meeting between Ludger Schuknecht, Vice President and Corporate Secretary of the AIIB, and Pakistan’s Minister for Economic Affairs, Ahad Khan Cheema, in Islamabad today. The meeting highlighted AIIB’s ongoing support to Pakistan, especially the critical assistance provided during the devastating floods of 2022, which significantly impacted the country.

Minister Ahad Cheema lauded AIIB’s pivotal role in these challenging times and briefed Schuknecht on Pakistan’s improving economic outlook, signaling a positive trajectory in recovery and growth. Cheema also expressed gratitude for AIIB’s favorable response to new project proposals from Pakistan aimed at bolstering the infrastructure sector. He underscored the importance of AIIB’s support in funding and executing projects crucial for Pakistan’s developmental agenda.

The enhanced cooperation between Pakistan and AIIB is expected to further strengthen Pakistan’s infrastructure, support poverty alleviation efforts, and contribute significantly to the country’s commitments towards global climate goals and sustainable development.