President AIIB due today

President of Asian Infrastructure Investment Bank (AIIB) Jin Liqun is scheduled to visit Pakistan from December 15-17, 2019 to further strengthen cooperation between Pakistan and the AIIB. AIIB was established in December 2015 with the objective of providing financing support to developing countries in Asia and Pacific for infrastructure development and promote regional connectivity.

Taking the opportunity of President AIIB's visit, an infrastructure conclave has been organized by the Finance Division on December 16, (Monday) to explore the areas where AIIB can finance regional connectivity projects and look into opportunities to mobilize private capital for Public Private Partnership (PPP) projects.

For the road infrastructure connectivity of Pakistan, Finance Ministry has invited Secretaries of different Ministries and has allocated 15 minutes to each Secretary to present gaps in infrastructure projects.

According to the foreign loans portfolio, the incumbent government obtained a loan of US$23 million from AIIB till September 2019.

In February this year, AIIB stated that it was considering investing over US$1 billion in Pakistan's critical infrastructure projects in the transport, urban and rural water and energy sectors.