Pakistan ISDB Development Deal Crosses Trillion Rupees Mark
Pakistan and the Islamic Development Bank signed major financing agreements in Islamabad. The Pakistan IsDB Development Deal is worth $603 million, crossing one trillion rupees. As a result, the partnership strengthens economic and social development nationwide.
Federal Minister for Economic Affairs Ahad Khan Cheema led the discussions. Meanwhile, IsDB Vice President Dr. Rami Ahmad represented the bank. Therefore, both sides reaffirmed long-term development cooperation.
Agreements Focus on Growth and Stability
Dr. Rami Ahmad and Secretary Muhammad Hameer Karim signed the documents. Senior federal ministers and officials attended the ceremony. In addition, the event highlighted confidence in Pakistan’s reform agenda.
The government described the agreements as timely and strategic. They aim to improve infrastructure and social resilience. As a result, communities across regions may see lasting benefits.
Motorway Project to Strengthen Connectivity
A large share supports the M-6 Sukkur Hyderabad Motorway project. The Islamic Development Bank will provide $475 million for this highway. Therefore, transport links between Sindh’s major cities will improve.
The M-6 route connects to the proposed Peshawar Karachi Motorway. For example, faster trade routes can reduce travel costs. As a result, businesses may gain better access to markets.
Poverty Relief and Education Support
Another part funds a poverty reduction initiative for flood affected families. The program focuses on skills and sustainable income sources. However, it moves households away from long term cash dependence.
The project will run in 25 districts across Pakistan.
Around 160,866 households will benefit directly. Therefore, economic self-reliance remains the main goal.
In addition, IsDB approved $10 million for education in Azad Jammu and Kashmir. The plan will re-enroll 60,000 out-of-school children. Moreover, it will train 4,000 teachers to improve learning quality.
