Washington, D.C.: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, met with Shohei Hara, Senior Vice President of the Japan International Cooperation Agency (JICA), to discuss development cooperation during the World Bank-IMF Spring Meetings in Washington, D.C. The discussions focused on revitalizing JICA’s lending activities in Pakistan and addressing ongoing development challenges.

According to Press Information Department, the Finance Minister welcomed JICA’s decision to resume its lending portfolio with Pakistan after a prolonged pause, highlighting the identification of a water supply scheme in Faisalabad as the first project under the renewed Yen loan initiative. The minister acknowledged the progress in the grants programme, noting that previous obstacles have been largely resolved through coordination with Pakistani authorities.

The Finance Minister expressed concerns about the negative net disbursement from JICA to Pakistan and emphasized the need to reverse this trend by resuming active lending. He showed interest in leveraging Japan’s social sector expertise, particularly in health and education, and exploring joint financing arrangements to enhance development outcomes in line with Pakistan’s broader agenda.

Additionally, the Finance Minister assured JICA of support in resolving manpower shortages at the Pakistan Institute of Medical Sciences and operational issues at Karachi Port, where security scanners face maintenance challenges. He expressed gratitude for JICA’s support in Pakistan’s peace efforts.