ISLAMABAD: A delegation from Islamic Development Bank (IsDB) led by Dr. Walid Abdelwahab, Director IsDB Regional Hub Türkiye, called on Minister for Economic Affairs Ahad Khan Cheema on Friday. The delegation is on a 3-day visit to Pakistan from 22 to 24 March.
Ahad Khan Cheema welcomed the delegation and said that the civilian award conferred upon President IsDB, is a testament to the strong and enduring partnership between the Bank and government of Pakistan.
He said that the award is the acknowledgement of the efforts of the President IsDB in galvanizing the global support for the floods 2022 affectees, by pledging 4.2 billion dollars.
Islamic Development Bank assures support to Pakistan
Dr. Walid Abdelwahab thanked the minister and said that Pakistan is one of the founding members of the IsDB and the third largest beneficiary of IsDB financing. He assured full support to the development vision and policies of the government. Both sides agreed that ties can be further strengthened through mutual collaboration and partnership.
Ahad Khan Cheema also witnessed the signing ceremony of financing Agreement (worth 200 million dollars, equivalent to Euro 188.70 million) for Sindh Flood Emergency Housing Reconstruction Project, organized in the Prime Minister’s Office.
Secretary, Economic Affairs Division Dr. Kazim Niaz, and Dr. Walid Abdelwahabinked the financing agreement, which reflects confidence of global financial institutions in Pakistan’s economy and its future. The project aims to construct 700,000 houses, benefiting about 4.2 million people in rural areas, facilitating creation of 75,000 water, sanitation, and hygiene facilities, and significantly improving conditions for more than 1.3 million individuals.
In a significant addition to this, both sides exchanged the IsDB’s Country Engagement Framework Document (2023-25), outlining the medium-term strategic directions and priorities of the IsDB Group partnership with Pakistan up to 2025. 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.
