PID

PR No. 216 ADB COUNTRY DIRECTOR MEETS ISHAQ DAR OPERATIONALIZATION OF PDF DISCUSSED Islamabad: June 29, 2016

Country Director, Asian Development Bank, Mr. Werner Leipach called on Finance Minister, Senator Mohammad Ishaq Dar here on Wednesday.

During the meeting matters relating to Pakistan Development Fund (PDF) were discussed.

Finance Minister said that Pakistan has a huge appetite for infrastructure development and the government is looking at innovative ways of financing these infrastructure needs. PDF was one such initiative and it is government’s priority to operationalize the Fund in the first quarter of the next financial year. He said that various bilateral and multilateral partners are likely to join the PDF. He also invited the Asian Development Bank to join PDF as an equity partner. The Fund will act as a DFI and operate on commercial basis. It will be completely independent in its working, the Minister added.

Mr. Leipach stated that ADB was keen to assist Pakistan in regard to PDF and could offer its technical expertise in the development of a commercial business plan with strategies and timelines to operationalize and run Pakistan Development Finance Company.

PDF it may be added has been established by the government to finance infrastructure development projects in the country.

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