Davos, Jan. 24 (APP): Prime Minister Shahid Khaqan Abbasi met Jin Liqun, President of Asia Infrastructure Investment Bank (AIIB) at the World Economic Forum (WEF) in Davos today. Special Assistant to PM Mr. Ali Jehangir Siddiqui and senior government officials were also present.
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 i.e. 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 in December 2017.
The Prime Minister reiterated that Pakistan was AIIB’s most enthusiastic supporter in its early stages and expressed the hope for building a strong and sustained relationship. The Prime Minister invited President AIIB to visit Pakistan.
During the meeting, the Prime Minister stated that socio-economic integration and uplift of FATA region is a major priority for the Government of Pakistan.
The Prime Minister emphasized that funding 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.
APP/Hamza/farah
VNS Davos
