WASHINGTON: Finance Minister Muhammad Aurangzeb has reiterated Pakistan’s commitment to regional cooperation by expressing full support for the establishment of the Shanghai Cooperation Organisation (SCO) Development Bank. The announcement came during a meeting with Chinese Finance Minister Lan Fo’an in Washington D.C., emphasizing Pakistan’s role in regional stability.

According to Radio Pakistan, the Finance Minister acknowledged Minister Lan’s appreciation for Pakistan’s efforts in facilitating dialogue and promoting stability in the region. The discussions also extended to financial cooperation with China, as Aurangzeb met with Dr. Pan Gongsheng, Governor of the People’s Bank of China.

In a separate meeting with Dr. Abdulhamid Alkhalifa, Chief Executive Officer of the OPEC Fund for International Development, Aurangzeb expressed a strong interest in utilizing the OPEC Fund’s financing options. These include sovereign lending for the public sector, private sector financing, and Islamic finance instruments. He encouraged the OPEC Fund to enhance its engagement with Pakistan’s private sector and explore policy-based budget support operations.