Islamic Development Bank will help operationalization of EXIM Bank of Pakistan and enhancing agricultural production using efficient irrigation system in Balochistan.
Grant agreements to this effect were signed in Islamabad today at a meeting between Prime Minister’s Advisor on Finance Dr Abdul Hafeez Shaikh and an IDB delegation led by its President Dr. Bandar M. H. Hajjar.
The bank has already signed an oil credit facility of 551 million dollars during the last week.
The Advisor informed the President IDB of the concrete policy measures introduced by the government for improving the economic and fiscal situation in the country.
He said government has finalized its strategy to deliver on Medium Term Economic Frameworks Targets to be agreed with IMF team already in Pakistan for technical discussions for a three year program.
The Advisor appreciated the role played by IDB as a leader in Islamic Finance and promoting global development.
He lauded the financing facility by International Islamic Trade Finance Corporation for import of oil and LNG signed recently.
The IDB President resolved to further strengthen cooperation with Pakistan in project financing and assured of early financing of Jamshoro Coal Fired Power Plant.
The high level delegation of IDB is on a three day visit to Pakistan to explore possible financing in health, energy, water and infrastructure.