PM for sustainable relationship with AIIB

Prime Minister Shahid Khaqan Abbasi Wednesday said Pakistan was the most enthusiastic supporter of Asia Infrastructure Investment Bank (AIIB) in its early stages and expressed the desire for building a strong and sustainable relationship with it.

He was talking to president of Asia Infrastructure Investment Bank (AIIB) Jin Liqun during a meeting at the World Economic Forum (WEF) in Davos. Special Assistant to Prime Minister Ali Jehangir Siddiqui and senior government officials were also present, a press release received here said.

The prime minister said the socio-economic integration and uplift of Federally Administered Tribal Areas (FATA) was a major priority of the government of Pakistan.

He emphasized that funding for water storage dams in FATA region would help in reintegrating and uplifting the region seamlessly.

The prime minister also sought the support of AIIB for implementation of some of shovel ready projects in water conservation, infrastructure and energy sectors. He also invited president AIIB to visit Pakistan.

The AIIB is a multilateral development bank that provides financing support for infrastructure and regional connectivity. It has a capital of US$ 100 billion and Pakistan is one of the founding members of the bank.

Pakistan has a seat on the board of governors and AIIB has co-financed two projects worth US $ 400 million in Pakistan such as; M-4 Shorkot- Khanewal Section (US$ 100 m) and Tarbella-V extension project (US$ 300m). A seven member delegation of AIIB board of directors visited Pakistan last year.