Washington: Finance Minister Muhammad Aurangzeb is actively seeking to broaden Pakistan’s financing sources and has extended invitations to the Asian Infrastructure Investment Bank (AIIB) to support projects in climate change impact mitigation and infrastructure development. His engagements are part of a broader strategy to secure robust international partnerships and financial support for the country.
According to Ministry of Information and Broadcasting, Minister Aurangzeb met with AIIB President Jin Liqun in Washington, where he requested the bank’s assistance in funding disaster preparedness programs and the reconstruction of the N-5 (GT Road) project. He highlighted AIIB’s past support, particularly following the devastating floods in 2022, and discussed his recent visit to China, where he engaged with the management of the People’s Bank of China.
The minister expressed a desire to diversify Pakistan’s financial instruments, including exploring the issuance of a panda bond with a partial credit guarantee from AIIB. By involving AIIB as a key supporter, Pakistan aims to reinforce confidence in its market stability and financial health. Aurangzeb praised the progress of ongoing AIIB projects in Pakistan and stressed the need for improved disbursement practices to maximize their impact.
He also extended an invitation to President Jin to visit Pakistan, which was accepted, signaling a strengthening of the bilateral relationship and a commitment to future collaborations.