ISLAMABAD: A delegation from the Islamic Development Bank is currently on a three-day visit to Pakistan, state-run APP reported on Saturday, and has exchanged with Pakistani officials an engagement framework outlining strategic directions and priorities of the partnership with the South Asian nation until 2025.
The team from the Jeddah-based multilateral lender will be in Pakistan from March 22-24. Pakistan is one of the founding members of the bank and the third largest beneficiary of its financing.
“The two sides exchanged the IsDB’s Country Engagement Framework (CEF) Document (2023-25), outlining the medium-term strategic directions and priorities of the lender’s partnership with Pakistan up to 2025,” APP reported.
“The IsDB Group Country Engagement Framework is focused on boosting recovery, tackling poverty and building resilience, and green economic growth which is in line with GOP’s vision and development priorities.”
On the first day of its visit on Friday, the delegation called on Minister for Economic Affairs Ahad Khan Cheema to discuss strengthening partnerships and promoting development initiatives,.
“He acknowledged the efforts of the President IsDB in galvanizing international support for the floods 2022 affectees, by pledging $ 4.2 billion,” a press release said. “Both sides agreed that relations can be further strengthened through mutual collaboration and partnership.”
Cheema also witnessed the signing with the IsDB of a financing agreement worth $200 million for the Sindh Flood Emergency Housing Reconstruction Project.
The project aims to construct 700,000 houses, benefiting an estimated 4.2 million people in rural areas of the southern province, and will support the creation of 75,000 water, sanitation, and hygiene facilities for over 1.3 million individuals.
