US Ex-Im Bank Chairman lauds Pakistan's economic performance
Fred Hochberg says US investors are now more keen in making investing in Pakistan.
Finance Minister Ishaq Dar held meeting with Chairman and President of US Export-Import (Ex-Im) Bank Fred Hochberg in Washington and discussed possible financing options in Pakistan.
He thanked President Ex-Im Bank on approval of financing facility for repair of PIA engines.
He informed the Chairman Ex-Im Bank that Pakistan has now become eligible for IBRD loans as a result of improvement in macro indicators and other independent agencies like Moody's had also improved Pakistan's rating from Stable to Positive.
Ishaq Dar asked Ex-Im Bank to reconsider Pakistan's rating and offer the same terms being extended to other countries in the region.
The chairman US Ex-Im Bank appreciated the much improved performance of Pakistan economy. He observed that US investors are now more interested in investing in Pakistan due to its economic policies and Ex-Im Bank will finance viable projects.
He expected that in the annual country assessment due in fall this year, Pakistan will have a better risk assessment.
Fred Hochberg recalled that Pakistan had availed 12 year financing facility for purchase of Boeing 777 aircraft some 10 years back, repayment of which was nearing completion. He stated that if PIA applies for a similar 12 year financing facility for purchase of aircrafts, Ex-Im Bank will definitely consider it.