News Column

Dar assures for establishing Asia Infrastructure Bank

May 5, 2014

Finance Minister, Muhammad Ishaq Dar on Monday assured full support to the Chinese Government for the establishment of Asia Infrastructure Bank.

A statement issued by the Ministry of Finance said that Ishaq Dar held a bilateral meeting with Chinese Finance Minister Mr. Lou Jiwei during the 47th Annual Meeting of the Board of Governors at Astana today.

The minister also appreciated the proposal for its establishment as it is likely to contribute to the development of infrastructure needs of the region.

The minister appreciated the Chinese contribution for the economic development of Pakistan. He also conveyed the best wishes from the Prime Minister of Pakistan to the Chinese leadership.

While appreciating the Chinese support for building the economic corridor from Kashgar to Gwadar, both sides agreed to work on an integrated plan for overcoming the difficulties likely to be encountered in the planning and implementation of the economic corridor.

Ishaq Dar assured full support for the initiative of establishing economic corridor as it will not only reduce the transportation costs but would also result in the development of the local regional economies through increased connectivity through enhanced levels of movement of people and goods.

The Chinese Finance Minister appreciated Pakistan's plans for the development projects initiated by the present government. Both sides were optimistic that the proposed Asian Infrastructure Investment Bank can work in parallel with other agencies for achieving the goals of sustained development.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Daily Messenger (Pakistan)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters