Islamabad:
Pakistan and International Finance Corporation (IFC) agree to take measures aimed at the early financial end of the REKO DIQ project, announced the Ministry of Finance on Sunday.
According to a statement, Finance Minister Muhammad Aurangzeb met with Riccardo Puliti, IFC’s regional vice president of the Middle East, Central Asia, Türkiye, Afghanistan and Pakistan, in Washington, DC.
Both sides expressed their obligation to accelerate the completion of the financial events for the REKO DIQ project, which is considered one of IFC’s most important engagements in Pakistan.
The Ministry of Finance said Minister Aurangzeb, accompanied by his team, arrived in Washington to attend the annual meetings of the International Monetary Fund (IMF) and the World Bank. The meeting with IFC marked the start of his official engagements.
During the meeting, Aurangzeb Pakistan’s improved macroeconomic indicators and praised IFC’s long -standing partnership with the country.
He expressed satisfaction with IFC’s role in promoting investment in the private sector in Pakistan, including multi-billion-dollar projects under 10-year-olds the country’s partnership framework (CPF).
The statement added that both sides agreed to take steps to finish financing for the REKO DIQ project at the earliest. The minister also greeted IFC’s decision to set up a new regional office in Islamabad.
Later, the minister held a productive meeting with Islamic Development Bank (ISDB) President Dr. Muhammad Sulaiman Al Jasser. He thanked ISDB for his long -term support for Pakistan and reviewed progress with ongoing projects and emphasized their timely implementation.
Aurangzeb expressed gratitude to the ISDB president for the approval of financing for two sections of the M-6 motorway and expressed hope of continued cooperation in Pakistan’s anti-polio efforts and oil supply projects.
