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FM calls for huge investment to build disaster resilient infrastructure in Pakistan

Foreign Minister Bilawal Bhutto Zardari has called for huge investment to build disaster resilient infrastructure in Pakistan through coordinated efforts with international development finance institutions.

He was talking to Chief Executive Officer (CEO) of Development Finance Corporation (DFC) of the United States, Scott Nathan in New York today.

The Foreign Minister said additional capital through institutions like DFC is imperative for addressing the challenge of climate change and development in renewable energy, agriculture and business industry.

He said attracting investments in all sectors of Pakistan’s economy is the government’s top priority.

Highlighting agriculture, infrastructure, energy including renewable energy and technology sector including green technologies as priority areas, Bilawal Bhutto Zardari hoped that DFC will tap the tremendous investment opportunities in these sectors in Pakistan.

Briefing the CEO of DFC about the devastating floods in Pakistan and the government’s efforts to manage the crisis, he expressed gratitude for the flood relief assistance provided by the United States.

The Foreign Minister said Pakistan wants to make economic and investment cooperation as one of the key pillars of its bilateral relations with the Unite States and DFC has an important role in this regard.

Speaking on the occasion, the CEO of DFC expressed solidarity with the people and government of Pakistan in the wake of devastating floods and assured continued US support in managing the crisis.

He reaffirmed DFC’s interest in collaborating with Pakistan’s private sector and assured continued engagement to identify projects ready for investment by US Corporate sector.

He also accepted the Foreign Minister’s invitation to visit Pakistan.

It is pertinent to mention here that the Development Finance Corporation of the United States has developed a Climate Action Plan beginning next year under which it would allocate 33 percent of its investments in climate related projects.


Source: Radio Pakistan