Japan Bank for International Cooperation commits to joining Reko Diq lender group

• Aurangzeb meets Janan, China, Bangladesh officials, and addresses WEF and JP Morgan seminars to discuss economic reforms, investment, and regional ties

Japan Bank for International Cooperation (JBIC) has formally committed to joining the Reko Diq lender group, a move that Pakistan’s Finance Minister Muhammad Aurangzeb praised during his meeting with JBIC Governor Nobumitsu Hayashi in Washington D.C, the Ministry of Finance said in a statement. 

Finance Minister Muhammad Aurangzeb held a series of high-level meetings in Washington D.C. to strengthen international and regional economic ties. During a meeting with Japan Bank for International Cooperation (JBIC) Governor Nobumitsu Hayashi, Minister Aurangzeb praised JBIC's commitment to joining the Reko Diq lender group, emphasizing that this move would positively impact Japanese businesses looking to invest in Pakistan. 

The finance minister also welcomed the recent Staff Level Agreement (SLA) with the International Monetary Fund (IMF), which he described as external validation of Pakistan’s economic reform agenda. He added that international rating upgrades further affirmed the government's commitment to reform.

The finance minister highlighted Pakistan's efforts to ensure foreign investor confidence, stressing the importance of collaboration between the public and private sectors to improve the country’s competitiveness in global markets.

In another key meeting, Minister Aurangzeb met Mr. Liao Min, Deputy Finance Minister of China. He briefed Mr. Liao on the recent SLA with the IMF and provided an update on Pakistan's Panda Bond issuance in the Chinese market. 

[caption id="attachment_215316" align="aligncenter" width="1280"] Source: @Ministry of Finance[/caption]

The minister also sought China’s support for Pakistan’s membership in the New Development Bank, while encouraging increased Chinese investment in key sectors such as technology, agriculture, and minerals.

The finance minister also met Mr. Lutfey Y. Siddiqi, Special Envoy to the Chief Adviser of Bangladesh, to discuss regional economic cooperation. Minister Aurangzeb reiterated Pakistan’s commitment to closer ties with Bangladesh, particularly in the information technology sector, which both sides identified as a key driver of economic transformation and job creation for young graduates. 

[caption id="attachment_215310" align="aligncenter" width="1280"] Source: @Ministry of Finance[/caption]

The minister emphasized the importance of continued knowledge-sharing between the two countries to foster regional growth.

In addition to these meetings, Senator Aurangzeb participated in the World Economic Forum’s (WEF) Future of Growth Initiative dialogue, where he discussed how technological advancement, particularly through AI and satellite imagery, can promote inclusive and sustainable growth. 

He highlighted AI-led monitoring systems in Pakistan’s Federal Board of Revenue (FBR), which have enhanced productivity and service delivery, especially for smallholding farmers.

[caption id="attachment_215314" align="aligncenter" width="1280"] Source: @Ministry of Finance[/caption]

Senator Aurangzeb also addressed the JP Morgan Investment Seminar, briefing investors on Pakistan’s recent fiscal, monetary, and external sector developments. 

He underscored the positive economic momentum driven by macroeconomic management and reforms, and reiterated the government's ongoing commitment to sustainable economic growth.