IDB assures it stands by its $4.2 billion pledge for flood-hit Pakistan

PARIS: Prime Minister Shehbaz Sharif has said that the Islamic Development Bank (IDB) has a beneficial partnership with Pakistan and would go a long way in helping the flood-hit people of the country in rebuilding their livelihoods.

In his meeting today with IsDB president Dr. Muhammad Al Jasser on the sidelines of the New Global Financing Pact Summit, PM Shehbaz discussed the long-standing cooperation between Pakistan and IDB.

This came after IDB made an announcement this January to provide $4.2 billion over a three years time in support of Pakistan’s flood recovery and rehabilitation at the event.

Sharif briefed Al Jasser on the recently formed Special Investment Facilitation Council to streamline foreign investments in the country and provide a one window solution to address all concerns of foreign investors.

The leaders took stock of ongoing projects and the PM also extended an invitation to Al Jasser to visit Pakistan.