Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Monday began a series of official meetings in Washington DC, focusing on investment and development financing as part of his participation in the annual gatherings of the International Monetary Fund (IMF) and the World Bank.
According to a statement issued by the Finance Division, Aurangzeb met with Riccardo Puliti, Regional Vice President of the International Finance Corporation (IFC) for the Middle East, Central Asia, Türkiye, Afghanistan, and Pakistan, to review ongoing collaboration and explore new investment avenues.
The minister highlighted Pakistan’s improving macroeconomic indicators and appreciated IFC’s role in scaling up private sector investments through multi-billion-dollar commitments under the 10-year Country Partnership Framework (CPF).
Aurangzeb leaves for US to participate in the IMF, World Bank annual meetings
He reaffirmed Pakistan’s commitment to ensuring early financial closure of IFC’s flagship Reko Diq project and welcomed the corporation’s new regional setup, which includes a regional office in Islamabad.
Aurangzeb also met Dr Muhammad Sulaiman Al-Jasser, President of the Islamic Development Bank (IsDB), and thanked the institution for its longstanding partnership and continued support to Pakistan.
During the meeting, both sides reviewed the IsDB’s active portfolio in Pakistan and discussed measures to accelerate project implementation.
The minister acknowledged the Bank’s board approval for financing two sections of the M-6 Motorway and expressed appreciation for its assistance in the country’s polio eradication and oil financing initiatives.
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They also agreed to develop a new Country Engagement Framework (CEF) to strengthen future cooperation and align priorities for Pakistan’s development agenda.
Aurangzeb is in Washington to attend the IMF-World Bank annual meetings, where he is expected to hold further discussions with international financial institutions and development partners on economic reforms, investment prospects, and financing arrangements for Pakistan.
