Federal Minister for Economic Affairs Mr. Ahad Khan Cheema met H.E. Dr. Muhammad Sulaiman Al Jasser, Chairman of the Islamic Development Bank (IsDB) Group, on the sidelines of the 2026 World Bank Group–IMF Annual Meetings in Bangkok to discuss accelerating development cooperation under Pakistan’s Member Country Partnership Strategy (MCPS) 2026–2030. The Minister congratulated Dr. Al Jasser on his re-election for a second five-year term and reaffirmed Pakistan’s confidence in his leadership. Welcoming the MCPS, which envisages approximately US$5.6 billion in indicative IsDB Group financing, The Minister emphasized the importance of translating the indicative financing envelope into a concrete pipeline of well-prepared projects, with clear timelines for financing approvals, disbursements and implementation.
The Minister appreciated IsDB’s US$475 million financing for the M-6 Sukkur–Hyderabad Motorway and welcomed its continued support for Pakistan’s polio eradication program, including the recent approval of US$100 million for Phase V. Highlighting the strategic importance of the ML-1 Railway Upgradation Project for modernizing Pakistan’s railway network, strengthening connectivity and enhancing economic competitiveness, he sought enhanced IsDB support for the project and urged close coordination with the Asian Development Bank and other co-financiers to advance project preparation and expedite implementation. To further strengthen development cooperation and mobilize trade and private capital, the Minister called for a coordinated, whole-of-Group approach involving IsDB, ITFC, ICD, ICIEC and the IsDB Institute to expand opportunities in export finance, SMEs, infrastructure, public-private partnerships and energy transition. He also highlighted the mobilization of over US$1 billion in trade financing through ITFC during FY2025–26 and sought more competitive terms for future facilities, reflecting Pakistan’s improving macroeconomic and credit profile.
H.E. Dr. Jasser commended the Government of Pakistan for its ambitious Economic Development vision and affirmed IsDB Group’s commitment to contribute to the attainment of Pakistan’s development priorities.
Both sides reaffirmed the importance of a strong, results-oriented partnership focused on transformational investments, effective implementation and measurable development outcomes.
