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International Fund for Agricultural Development Vice President meets Ishaq Dar - Press Note issued by Press Information Department

June 27, 2014

Following is the text of press note issued by Press Information Department (PID)


A delegation of International Fund for Agricultural Development (IFAD) led by Vice President Michel Mordasini met the Finance Minister Senator Ishaq Dar on the sidelines of 39th IDBG meeting here today.

Vice President IFAD was accompanied by Suliman Alsawi Chief Arab and Gulf States. From Pakistan side Secretary Economic Affairs Division Saleem Sethi and Consul General Aftab A. Khokher were present. The Finance Minister Ishaq Dar said that the government was thankful to IFAD for its participation in different projects in eradicating rural poverty in Pakistan through low-interest loans and grants.

He thanked IFAD for working closely with the government of Pakistan to develop and finance programmes that enable rural people to overcome poverty themselves. He also appreciated IFAD's contribution towards economic development in Pakistan which consists of two on-going and one approved project costing US$124.82 million, including IFAD's loan funding of US$105.30 million.

He said that government of Prime Minister Mohammed Nawaz Sharif has zero tolerance for incompetence, delay in development schemes and no tolerance for any hindrance in internationally funded projects. He informed IFAD delegation that financial procedures have been streamlined and ECNEC and other government bodies are working professionally and quick decisions are being taken on projects of national interests.

The Finance Minister, Ishaq Dar, emphasized the need for enhancement of IFAD's funding for projects in Pakistan, particularly those aimed at rural poor and suggested close collaboration between IFAD and Islamic Development Bank.

Vice President IFAD Michel Mordasini showed keen interest in enhancement of relationship with a renewed commitment. He thanked Finance Minister for his interest and assurance for removing bureaucratic hurdles and providing an investment friendly environment.

Both the dignitaries also discussed ways and means to enhance partnership for joint ventures in Pakistan aimed at irrigation system, extension of credit facility to the farmers for purchase of latest farm machinery and equipment and adoption of modern farming techniques. They also discussed investment in roads and communication infrastructure projects in rural areas and introducing food technology in agriculture sector.

For more information, contact:

Haji Ahmed Malik

Principal Information Officer

Press Information Department (PID)

Tel: +9251 925 2323 and +9251 925 2324

Fax: +9251 925 2325 and +9251 925 2326



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Source: Pakistan Press International

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