Finance Minister Senator Mohammad Ishaq Dar said that having achieved economic stability, the government was now fully focused on achieving growth and employment generation. He said the government highly appreciated the contribution of the World Bank for various development projects and said the recent visit by the bank's president proved further boost to fostering Pak- World Bank cooperation.
Ishaq Dar stated this while chairing a meeting which reviewed portfolio of World Bank projects in Pakistan. In this connection, World Bank Country Director, Pochumuthu Illangovan along with other senior World Bank officials attended the meeting.
Senior officials of the Finance Division, Economic Affairs Division (EAD) and Federal Board of Revenue (FBR) were also present. Pochumuthu Illangovan on this occasion said the World Bank would continue to finance different projects in Pakistan and that he looked forward to further strengthening Pak-World Bank cooperation in future. The reforms, it may be mentioned aim at enhancing the investment climate, promoting capital market development, enhancing financial inclusion, corporate governance, improving debt management and expanding social protection. Meanwhile, Germany agreed on Friday to provide assistance of Euro 125.7 million in various sectors including health, energy, technical and vocational training. An accord signing ceremony was held in this regard here at ministry of finance in which Tariq Bajwa, Secretary Economic Affairs Division (EAD) signed the four agreements from Pakistan side while Ambassador of Germany to Pakistan Ina Lepal signed the agreements form the other side.
Minister for Finance, Senator Mohammad Ishaq Dar witnessed the signing of the agreements. Speaking on the occasion Ishaq Dar said out of total assistance, an amount of Euros 98.7 million was a grant while the remaining Euros 27 million would be in shape of soft loan. Acknowledging the role of Germany in helping Pakistan government in achieving sustainable socioeconomic objectives, Ishaq Dar stated that Pakistan values Pak-German partnership dating back to 1961. He emphasized the need to not only enhance bilateral coop- eration in trade, energy and social sectors as well as promoting bilateral trade and investment and more people to people contacts.
Both sides expressed the resolve to continue working together to enhance bilateral ties in areas of mutual interest. The German Ambassador highlighted 56 years of successful German-Pakistani cooperation with the affirmation to continue the same for mutual benefit of the two countries. She also stressed Germany's lasting support to Pakistan in health, energy, technical and vocational training, sustainable development, support to TDPs and Refugees. She also informed that Germany would soon start new commitment with Pakistan to provide further Euro 94 million in various sectors.