Minister Cheema leads EDCF kickoff meeting in Pakistan

The Economic Development Cooperation Fund (EDCF) Country Programme Mission recently held its kickoff meeting, chaired by Federal Minister for Economic Affairs, Ahad Khan Cheema. The meeting, spearheaded by Bonhyun Koo, Director of Asia Team from the Export-Import Bank of Korea (EXIM Bank), brought together key stakeholders to discuss ongoing and future projects aimed at enhancing economic development in Pakistan.

During the meeting, Minister Cheema expressed gratitude for the support received from the EXIM Bank and the Government of the Republic of Korea. He highlighted the successful implementation of seven projects totaling US$ 522 million in crucial sectors such as road infrastructure, information technology, and health. The signing of the Framework Arrangement (2022-26) by the EXIM Bank was also lauded, with expectations for the full utilization of the committed US$ 1,000 million.

Furthermore, ten pipeline projects were shared with the EDCF for swift implementation, while new projects in priority sectors like Information and Communication Technology (ICT), climate change, construction, and transport were identified for future planning. Minister Cheema reaffirmed Pakistan's dedication to strengthening cooperation with the EDCF, underscoring the potential for mutual growth through enhanced project efficiency.

The meeting concluded with Minister Cheema extending his gratitude to all participants for their valuable contributions towards advancing economic development initiatives in Pakistan.

The kickoff meeting of the EDCF Country Programme Mission highlighted the collaborative efforts between Pakistan and the EXIM Bank of Korea to drive economic growth through strategic projects. With a focus on key sectors and a commitment to efficient project implementation, the partnership aims to foster sustainable development and enhance bilateral cooperation for the benefit of both nations.