Umar-led Pakistani delegation meets WB, ADB officials

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WASHINGTON: A Pakistani delegation led by Finance Minister Asad Umar met with Asian Development Bank and World Bank representatives in Washington to discuss issues related to the economy and reforms undertaken by Islamabad, according to a press statement received by the APP on Friday.
The Pakistani delegation also held a number of bilateral meetings on the sidelines of the International Monetary Fund (IMF) and World Bank (WB) spring meetings.
The finance minister and his delegation met with the Asian Development Bank (ABD) President Takehiko Nakao and apprised him of the current macroeconomic situation in the country.
Umar and Nakao discussed the continuation of Pakistan’s ongoing engagement with the ADB, while Nakao appreciated the reforms process in the country and assured him of the ADB’s continued support.
Earlier, the finance minister reviewed the WB’s Pakistan portfolio in a meeting with the WB team led by Hartwig Schafer, the vice president for South Asia.
They discussed projects in the pipeline as well as the sectors in which the World Bank could further scale up its interventions in Pakistan.
The finance minister also held a meeting with a team of the World Bank’s Multilateral Investment Guarantee Agency (MIGA) led by Chief Operating Officer Vijay Iyer and shared views about the privatisation policy of the government and the expansion of a public-private partnership framework in the country.
Additionally, the MIGA team apprised the finance minister of its current engagements in Pakistan. They informed him that MIGA was now looking to expand its portfolio in the country.
On the sidelines, the finance minister also met with the US Treasury and apprised them of the macroeconomic situation in the country, the reform efforts, and measures being taken to strengthen the anti-money laundering legal and enforcement framework.
Umar also held a meeting with Saudi counterpart Mohammed Al-Jadaan who informed the finance minister about the increasing growth momentum of the Saudi economy and the potential employment opportunities for Pakistani construction workers in the country.
Umar arrived in Washington DC on Tuesday to attend the WB and IMF spring meetings. He met WB Group President David R Malpass and senior IMF officials on Wednesday as part of efforts to seek a three-year bailout package.– APP

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