PM Shehbaz meets ISDB & European Commission Presidents at New Global Financial Pact outlines

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On the margins of the Summit for a New Global Financial Pact, which is taking place in Paris on Friday, Prime Minister Shehbaz Sharif met with Muhammad Al Jasser, President of the Islamic Development Bank (ISDB), and Ursula von der Leyen, President of the European Commission.

According to a statement issued by the Prime Minister’s Office (PMO), the prime minister and IsDB chief discussed potential new areas of partnership and reviewed the status of different current initiatives.

The statement added, “On behalf of the Government and People of Pakistan, the Prime Minister congratulated Dr. Al Jasser for ISDB’s participation in the International Conference on Climate Resilient Pakistan held in Geneva on January 9, 2023.

“The prime minister briefed Dr. Al Jasser on the recently formed Special Investment Facilitation Council (SIFC) to streamline foreign investments in the country and provide a one-window solution to address all concerns of foreign investors,” according to the statement.

Shehbaz also invited President ISDB to visit Pakistan whenever it would be most convenient for him.

PM Sharif had a separate meeting with Ursula von der Leyen, the head of the EC.

In order to restore and rebuild the flood-affected areas, the prime minister reaffirmed Pakistan’s commitment to cooperate closely with European institutions.

PM Sharif stated that he will “present Pakistan’s position on the need for restructuring of international financial institutions” at the summit in Paris in the days before his departure for France.

In an effort to secure the release of crucial delayed funds, South Asian Prime Minister Shehbaz Sharif briefed Kristalina Georgieva, managing director of the International Monetary Fund, on the country’s economic situation on Thursday.