Islamic Development Bank promises financing for Jamshoro plant

IDB president emphasises that the bank would further strengthen cooperation with Pakistan

ISLAMABAD: The Islamic Development Bank (IDB) will extend all possible cooperation for economic development in Pakistan, said IDB President Dr Bandar MH Hajjar.

He made the remarks in a meeting with Adviser to Prime Minister on Finance, Revenue and Economic Affairs Dr Abdul Hafeez Shaikh on Thursday.

The IDB president emphasised that the bank would further strengthen cooperation with Pakistan in project financing and assured the country of early financing for the Jamshoro coal-fired power plant.

Speaking on the occasion, the finance adviser highlighted the concrete policy measures introduced by the government for improving the economic and fiscal situation of Pakistan, especially the current account.

“The government has finalised its strategy to deliver on medium-term economic framework targets to be agreed with the IMF team, which is already in Pakistan for technical discussions for a three-year programme,” he said. A high-level IDB delegation is on a three day visit to Pakistan to explore avenues of financing.

Published in The Express Tribune, May 3^rd, 2019.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.