Mid-term pipeline projects: New projects identified, Korean EXIM Bank team told

ISLAMABAD: Minister for Economic Affairs Ahad Khan Cheema has informed the programme mission of the EXIM Bank Korea that as part of planning for mid-term pipeline projects, the ministry has identified new projects in priority sectors such as Information and Communication Technology (ICT), climate change, construction, and transport.

On Thursday, the minister chaired the kickoff meeting of the Economic Development Cooperation Fund (EDCF) Country Programme Mission, led by Bonhyun Koo, Director of Asia Team, from the Export-Import Bank of Korea (EXIM Bank) on Thursday.

The meeting included members of the EDCF Project Management Consultant (PMC), secretary EAD and senior officials from the Ministry of Economic Affairs, and other key stakeholders.

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The minister welcomed the delegation and expressed gratitude for the continued support provided by the EXIM Bank and the Government of the Republic of Korea.

The minister noted that seven ongoing projects, totaling US$ 522 million, are currently being implemented across key sectors, including road infrastructure, information technology, and health.

He also commended EXIM Bank for signing the Framework Arrangement (2022-26) and expressed the hope for full utilisation of the US$ 1,000 million committed under this agreement.

Furthermore, it was noted that 10 pipeline projects have already been shared with the EDCF and their prompt implementation is anticipated.

Cheema further apprised the mission that as part of planning for Mid-term Pipeline Projects, the ministry has identified new projects in priority sectors such as ICT, climate change, construction, and transport.

In his concluding remarks, Cheema reiterated Government of Pakistan’s commitment to strengthening cooperation with the EDCF and expressed confidence that with improved efficiency in project preparation and implementation, both countries can maximise their collaborative potential.

The meeting concluded with the minister thanking all participants for their valuable contributions.

Copyright Business Recorder, 2024