AIIB, Pakistan forge alliance for poverty reduction, climate action

June 05, 2024 (MLN): The Asian Infrastructure Investment Bank (AIIB) has agreed to promote cooperation with Pakistan in poverty reduction, climate change, financing instruments, and the advancement of SDGs.

The affirmation was made by Vice President and Corporate Secretary of the Asian Infrastructure Investment Bank Ludger Schuknecht during a meeting with Minister for Economic Affairs Ahad Khan Cheema in Islamabad today.

The Minister for Economic Affairs extended a warm welcome to the Vice President and Corporate Secretary of AIIB, expressing gratitude for the valuable support and assistance provided to the people of Pakistan.

He commended AIIB’s crucial role in assisting 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.

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.

Minister Cheema 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.

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