ISLAMABAD: Prime Minister Shehbaz Sharif met Islamic Development Bank (IsDB) President Dr. Muhammad Al Jasser on Friday at the sidelines of the New Global Financial Pact summit in Paris, the Prime Minister’s Office (PMO) said, to discuss ongoing projects in the country and “new avenues of collaboration.”
The IsDB is a multilateral and international financial development institution that aims to foster socio-economic development in Muslim member countries. Pakistan is also among the 56 members of the IsDB where the IsDB has invested in various projects.
After the devastating floods of 2022 killed 1,700 people and inflicted losses worth $30 billion on Pakistan, the IsDB pledged $4.2 billion for the South Asian country over the next three years.
During their meeting, the two leaders discussed Pakistan and IsDB’s longstanding cooperation and engagement. “The Prime Minister and President IsDB took stock of the progress on various ongoing projects and exchanged views on new avenues of collaboration,” the PMO said.
PM Sharif thanked Al Jasser for galvanizing financial support for Pakistan, adding that the institution’s partnership with Pakistan would go a long way in helping Pakistanis rebuild their lives and livelihoods after the cataclysmic floods.
“The Prime Minister briefed Dr. Al Jasser on the recently formed Special Investment Facilitation Council to streamline foreign investments in the country and provide a one-window solution to address all concerns of foreign investors,” the PMO stated.
Sharif is in Paris for the two-day summit that concludes today to engage world leaders and highlight the plight of developing countries afflicted the most by climate change.
The Pakistani premier is among 40 global leaders and representatives of international organizations at the summit that aims to boost crisis financing for low-income countries and free up funds to tackle climate change.
