BEIJING: Pakistan’s development projects are amongst the China-backed Asia Infrastructure Investment Bank’s (AIIB) top priorities.
A senior official of Pakistan’s Embassy told a local news agency, “Pakistan is the founding member of AIIB, and wishes it a leading role in the banking sector, the world over.”
“AIIB’s management is working very seriously on the selection of its first projects,” the official said, hoping, “The projects of Pakistan will be among them.”
AIIB President Jin Liqun, in his recent statement, had shown interest in financing the infrastructure development in the energy, transport and urban development sectors of Pakistan. The two sides are in close touch for the bank’s investment in Pakistan.
Meanwhile, there are more than 30 countries waiting to join AIIB, in addition to its 57 founding members. The AIIB is now planning to accept new members, Liqun said at the Boao Forum for Asia in the Chinese island province of Hainan.
“I think the new member issue will be solved before the end of this year,” he said. A not-for-profit multilateral development bank initiated by China, the AIIB was officially established in December and started its operations in January. It is due to unveil its first projects in the first half of this year.
“Existing financial institutions could not fully meet every nation’s demands, so new ones, like the AIIB, will be of great help,” Liqun expressed the optimism.
