BEIJING: Finance Minister, Senator Ishaq Dar on the sidelines of the AIIB signing ceremony and inter-ministerial discussion on AIIB, had separate meetings with finance ministers and heads of delegations from Turkey, Sri Lanka, Georgia, Azerbaijan and Brunei.
During the meetings matters pertaining to future outlook and effective working of AIIB were discussed. There were also detailed deliberations on expected formation of a constituency for representation in the AIIB.
It may be mentioned that AIIB Board of Directors (BoD) would be elected by the member countries. Countries from the region will elect 9 directors while non-regional countries will elect 3 directors. BoD would thus comprise of a total of 12 members. All member countries would form constituencies to elect the directors to represent them.
The AIIB’s authorized capital is USD 100 billion. It will meet the infrastructure financing requirements of the countries in the region thus facilitating their march to economic development.
Meanwhile, Ishaq Dar had separate meetings with Finance Minister of Saudi Arabia and Head of Omanese delegation attending the AIIB signing ceremony.
The minister exchanged Ramazan greetings with his Saudi counterpart and head of the Omanese delegation. He also had discussion with them on the future working of AIIB, election of AIIB President and other matters of regional and international significance.
Finance Minister Dar, it may be mentioned visited Beijing from 29 June to July 1. He attended the AIIB Articles of Agreement signing ceremony besides participating in the Inter-Ministerial meeting on the future working of the Bank. He also met the Chinese President, conveying him messages of good wishes from the President and Prime Minister of Pakistan.
On the sidelines of the main event, the Finance minister had meetings with finance ministers and heads of delegations of various countries.
