Regional leaders meet in Islamabad today for key summit to discuss trade, security and other issues

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Participants of Shanghai Cooperation Organization (SCO) Summit pose for a group picture in Islamabad, Pakistan on October 16, 2024. (Government of Pakistan)
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People are seen at the Crescent and Star Monument, as Pakistan hosts the Shanghai Cooperation Organization (SCO) summit, in Islamabad on October 15, 2024. (REUTERS)
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Updated 16 October 2024
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Regional leaders meet in Islamabad today for key summit to discuss trade, security and other issues

  • Top officials from China, Russia, India, Iran and several Central Asian states are attending the two-day summit in Islamabad
  • On Tuesday, PM Shehbaz Sharif warmly greeted the visiting dignitaries, including Indian FM, at a dinner he hosted in their honor

ISLAMABAD: Pakistan is hosting the main session of a two-day summit of the Shanghai Cooperation Organization (SCO) in Islamabad today, Wednesday, wherein leaders from SCO member states are expected to discuss trade, security and other issues of mutual interest.

The prime ministers of China, Kyrgyzstan, Tajikistan, Russia, Belarus, Kazakhstan and Uzbekistan as well as Iran’s first vice president and the Indian external affairs minister are in Islamabad to attend the regional summit.

The Pakistani government has declared a three-day holiday in the federal capital of Islamabad since Monday, with schools and businesses closed to ensure security of foreign leaders attending the high-profile regional summit.

On Tuesday, Prime Minister Shehbaz Sharif hosted a dinner in honor of the visiting foreign dignitaries, wherein he was seen greeting and shaking hands with the attendees, including Indian External Affairs Minister Subrahmanyam Jaishankar.




Pakistan Prime Minister Shehbaz Sharif (right) shakes hand with Indian External Affairs Minister Subrahmanyam Jaishankar as he arrives at the Jinnah Convention Center to attend the Shanghai Cooperation Organization (SCO) summit in Islamabad, Pakistan, on October 16, 2024. (Government of Pakistan)

“On October 16, Prime Minister Sharif will chair the meeting of the Council of Heads of Government of SCO member states and deliver the opening remarks, followed by statements from the leaders of participating countries,” the Pakistani foreign office said in a statement.

The documents reflecting outcomes of the meeting will also be signed during the session that will conclude with Sharif’s closing remarks, according to the statement.

Pakistan’s Deputy Prime Minister Ishaq Dar and SCO Secretary General Zhang Ming will share a communiqué after the concluding session.

Pakistani authorities have locked down the capital to ensure security of foreign leaders attending the SCO summit. The government has deployed troops and blocked key roads, announcing alternate routes for the residents.

Sharif met with Central Asian leaders and discussed trade, investment and regional connectivity as part of his engagements on the first day of the summit on Tuesday,

Pakistan, faced with tough economic conditions, wants to position itself as a regional trade hub and to leverage its strategic geopolitical position and enhance its role as a pivotal trade and transit hub connecting China and Central Asia with the rest of the world.

Pakistani authorities have locked down the capital to ensure security of foreign leaders attending the SCO summit, while the government has deployed troops and blocked key roads, announcing alternate routes for the residents.


World Bank president in Pakistan to discuss development projects, policy issues

Updated 01 February 2026
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World Bank president in Pakistan to discuss development projects, policy issues

  • Pakistan, World Bank are currently gearing up to implement a 10-year partnership framework to grant $20 billion loans to the cash-strapped nation
  • World Bank President Ajay Banga will hold meetings with Pakistan Prime Minister Shehbaz Sharif and other senior officials during the high-level visit

ISLAMABAD: World Bank President Ajay Banga has arrived in Pakistan to hold talks with senior government officials on development projects and key policy issues, Pakistani state media reported on Sunday, as Islamabad seeks multilateral support to stabilize economy and accelerate growth.

The visit comes at a time when Pakistan and the World Bank are gearing up to implement a 10-year Country Partnership Framework (CPF) to grant $20 billion in loans to the cash-strapped nation.

The World Bank’s lending for Pakistan, due to start this year, will focus on education quality, child stunting, climate resilience, energy efficiency, inclusive development and private investment.

"World Bank President Ajay Banga arrives in Pakistan for a high-level visit," the state-run Pakistan TV Digital reported on Sunday. "During his stay, he will meet Prime Minister Shehbaz Sharif and other senior officials to discuss economic reforms, development projects, and key policy issues."

Pakistan, which nearly defaulted on its foreign debt obligations in 2023, is currently making efforts to stabilize its economy under a $7 billion International Monetary Fund (IMF) program.

Besides efforts to boost trade and foreign investment, Islamabad has been seeking support from multilateral financial institutions to ensure economic recovery.

“This partnership fosters a unified and focused vision for your county around six outcomes with clear, tangible and ambitious 10-year targets,” Martin Raiser, the World Bank vice president for South Asia, had said at the launch of the CPF in Jan. last year.

“We hope that the CPF will serve as an anchor for this engagement to keep us on the right track. Partnerships will equally be critical. More resources will be needed to have the impact at the scale that we wish to achieve and this will require close collaboration with all the development partners.”

In Dec., the World Bank said it had approved $700 million in ​financing for Pakistan under a multi-year initiative aimed at supporting the country's macroeconomic stability and service delivery.

It ‍followed a $47.9 ‍million World Bank grant ‍in August last year to improve primary education in Pakistan's most populous Punjab province.