AIIB interested to finance infrastructure projects in Pakistan

AIIB President Jin Liqun says bank is looking forward for closer cooperation with Pakistan's public and private sector

ISLAMABAD: The Asian Infrastructure Investment Bank (AIIB) has expressed interest to finance infrastructure projects in Pakistan in various sectors including energy, transport, seaport and urban development, Radio Pakistan reported.

Addressing a news conference along with Finance Minister Ishaq Dar in Islamabad on Wednesday, President AIIB Jin Liqun said Pakistan had great potential in infrastructure sector, which will pave the way for sustainable economic development.

Liqun said the bank was looking forward for closer cooperation with Pakistan's public and private sector.

The bank's officials will be visiting Pakistan soon to discuss collaboration in different projects,” he added.

Read: Pakistan signs AIIB agreement

The AIIB president said the bank will work with other world institutions, including the World Bank and the Asian Development Bank to achieve the objective of progress and prosperity.

In his remarks, Dar said Pakistan will welcome the AIIB funding for the Diamer Bhasha Dam.

Chinese banks are already financing the projects under the China-Pakistan Economic Corridor, and the AIIB will meet about 70 per cent infrastructure funding needs of Asia, he added.

Earlier in June this year, Pakistan had signed the articles of agreement (AoA) of the Asian Infrastructure Investment Bank (AIIB) during a ceremony held at the Great Hall of the People in Beijing.