Pakistan’s Finance Minister, Muhammad Aurangzeb, has formally conveyed the nation’s unequivocal backing for the proposed Shanghai Cooperation Organisation Development Bank, while simultaneously articulating a keen interest in broadening financial engagement with the OPEC Fund to leverage its diverse lending mechanisms.
During discussions with his Chinese counterpart, Lan Fo’an, in the American capital, Mr. Aurangzeb reiterated Pakistan’s steadfast dedication to regional collaborative efforts. He explicitly offered Pakistan’s full and unconditional endorsement for the establishment of the Shanghai Cooperation Organisation Development Bank, according to an official report today.
The Finance Minister conveyed appreciation for Minister Lan’s acknowledgement of Pakistan’s constructive contribution to fostering dialogue and promoting stability across the region.
Separately, during a meeting with Dr. Pan Gongsheng, Governor of the People’s Bank of China, the Pakistani finance chief engaged in discussions concerning financial collaboration.
In a separate engagement, Mr. Aurangzeb expressed significant interest in fully harnessing the OPEC Fund for International Development’s three complementary financing windows. These include sovereign lending for the public sector, private sector funding, and Islamic financial instruments.
These deliberations took place during his interaction with Dr. Abdulhamid Alkhalifa, Chief Executive Officer of the OPEC Fund, also held in Washington D.C.
The minister encouraged the OPEC Fund to further deepen its engagement with Pakistan’s private sector. He also articulated interest in exploring potential policy-based budget support operations.