Islamic Development Bank assures financing for Jamshoro Coal Power Plant

ISLAMABAD: An Islamic Development Bank (IsDB) delegation, led by President Dr. Bandar M. H. Hajjar, called on Adviser to Prime Minister on Finance, Revenue and Economic Affairs, Dr. Abdul Hafeez Shaikh here on Thursday in Islamabad.

During the meeting, IsDB President Dr. Bandar expressed resolve to further strengthen cooperation with Pakistan in the areas of project financing and assured of early financing of Jamshoro Coal Fired Power Plant.

According to a statement issued by the ministry, the meeting was preceded by signing of grant agreements for “Operationalisation of EXIM Bank of Pakistan (EXIMBP)” and “Support Enhancing Agricultural Production using Efficient Irrigation System in Baluchistan, Pakistan” Projects.

Dr. Abdul Hafeez Shaikh apprised the IsDB delegation about concrete policy measures introduced by the government for improving the economic and fiscal situation in the country in general and the current account situation in particular.

He said, “The government has finalized its strategy to deliver on medium term economic frameworks targets to be agreed with IMF team already in Pakistan for technical discussions for a three year program.”

The advisor lauded the financing facility by International Islamic Trade Finance Corporation for import of oil and LNG signed recently and discussed that the teams at EAD and IsDB should press on to realize the full disbursement of the facility.

On the occasion, Dr. Bandar said that the bank would extend all possible cooperation for economic development of Pakistan.

It is pertinent to mention here that the high level delegation of IsDB is on a three day visit to Pakistan to explore possible financing in health, energy, water and infrastructure.

During the visit, the delegation would call on PM Imran, President Arif Alvi and other high officials.