Daily Times

Vice President and Corporate Secretary of the Asian Infrastructure Investment Bank (AIIB) Ludger Schuknecht on Wednesday met with the Federal Minister for Economic Affairs Ahad Khan Cheema and discussed strategic partnership and future development plans.

The Secretary and Special Secretary of the Ministry of Economic Affairs were also present attended the meeting.

The minister expressed gratitude for the valuable support and assistance provided to the people of Pakistan. He commended AIIB’s crucial role in delivering assistance to Pakistan, especially during the 2022 floods, and briefed him on the country’s improving economic outlook.

The Vice President of AIIB expressed his gratitude to the Minister for the strong partnership and collaboration on development issues such as poverty reduction, climate change, financing instruments, and the advancement of SDGs.

He agreed to enhance cooperation between the Government of Pakistan and AIIB in the aforementioned areas. The minister appreciated AIIB’s favorable consideration of new project proposals from Pakistan in the infrastructure sector and expressed hope for continued collaboration in funding and implementing vital projects.

The minister also lauded AIIB’s policy initiatives for new financing efforts related to the Bank’s Climate Action Plan, assuring that Pakistan will support such initiatives, given its status as one of the most climate-vulnerable countries.