'AIIB to finance infrastructure projects in Pakistan'
President-designate AIIB says the bank is looking forward for closer cooperation with Pakistan's public, private sector.
Asian Infrastructure Investment Bank has expressed interest to finance infrastructure projects in Pakistan in various sectors including energy, transport, seaport and urban development.
Addressing a news conference along with Finance Minister Ishaq Dar in Islamabad on Wednesday, President-designate of the bank Jin Liqun said Pakistan has a great potential in infrastructure sector, which will pave the way for sustainable economic development.
Jin Liqun said the bank is looking forward for closer cooperation with Pakistan's public and private sector. The bank's officials will be visiting Pakistan very soon to discuss collaboration in different projects.
He said the AIIB 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, Finance Minister Ishaq Dar said Pakistan will welcome the AIIB funding for the Diamer Bhasha Dam. He said the land is being acquired for this mega project while PC-1 has been approved by the ECNEC.
Ishaq Dar pointed out that the Chinese banks are already financing the projects under the China-Pakistan Economic Corridor. He said the AIIB will meet seventy percent infrastructure funding needs of Asia.