ISLAMABAD:
The Asian Infrastructure Investment Bank (AIIB) named Pakistan as an important partner country on Tuesday, reiterating its commitment to supporting the country in meeting development goals and overcoming climate-related challenges through policy and budgetary support.
The reiteration was made by an AIIB delegation led by its Vice President Client Region and Project Finance Global, Konstantin Limitovskiy, calling on Pakistan’s finance minister, according to a press release issued by finance ministry.
During the meeting, the AIIB team briefed the minister about the bank’s portfolio investment in Pakistan, including projects initiated in hydro power generation, improving the road and transport sector, urban infrastructure development, building climate resilience and dealing with the adverse impacts of pandemics, conflicts and climate-induced flood disasters. The discussion also covered the status of ongoing projects and the need to shift the bank’s funding focus from power generation to the transmission and distribution system, due to the surplus capacity that requires evacuation.
On the occasion, the finance minister acknowledged the bank’s support for Pakistan, particularly its funding and technical assistance in dealing with natural disasters and the impacts of climate change and disaster preparedness on a long-term basis.
