ISLAMABAD: Chairman Islamic Development Bank Dr. Muhammad Sulaiman Al-Jasser said on Tuesday Pakistan was the second largest borrower of his bank, adding the two sides had signed an agreement of $180 million for the construction of Mohmand Dam only a day ago.
Al-Jasser is currently visiting Islamabad to attend the 48th session of the Council of Foreign Ministers (CFM) of the Organization of Islamic Cooperation (OIC).
He also witnessed the signing of the agreement on Monday to financially support the construction of the hydropower project.
“We have done financing of $14.5 billion over the years and Pakistan is the second largest borrower of the bank,” Al-Jasser told Arab News in an interview on the sidelines of the OIC conference, adding Pakistan was a very important member and good client of the bank.
“Yesterday, we signed a contract for [the construction of] Mohmand Dam which we are financing with about $180 million,” he continued.
Al-Jasser applauded Pakistan for launching several infrastructure projects in the last couple of years.
“I have learned that there are many other projects of the same significance in Pakistan,” he said. “So, I am very optimistic due to the developments taking place in this country.”
Asked about the future of the humanitarian trust fund established by the OIC under his bank, Al-Jasser said he was hopeful of its success due to OIC’s own track record.
“I am very optimistic because the OIC has created this fund and the OIC has a very good track record regarding its commitments,” he maintained. “I hope there will be good work [done] through this.”
Al-Jasser noted the fund would be utilized to finance the immediate needs of Afghan people in the first phase.
“Hopefully, it will go further than that when these needs are met,” he added.