ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar met Chairman US Exim Bank Fed Hochberg and his team in Washington Friday and discussed financing options in Pakistan.
According to a message received here from Washington here, the Finance Minister thanked President Exim Bank on approval of financing facility for repair of PIA engines.
The Finance Minister also informed the Chairman Exim Bank that Pakistan has now become eligible for International Bank for Restructuring and Development loans as a result of improvement in macro indicators and Pakistan’s rating from Stable to Positive by independent agencies like Moody’s.
Finance Minister, therefore, asked Exim Bank to reconsider Pakistan’s rating and offer terms being offered to other countries in the region.
Chairman US Exim Bank, Fred Hochberg appreciated the much improved performance of Pakistan economy and expected that in the annual country assessment due in Fall, Pakistan will have a better risk assessment.
Chairman Exim Bank recalled that Pakistan had availed 12-year financing facility for purchase of Boeing 777 aircrafts some 10 years back, repayment of which was nearing completion.
Chairman Exim Bank stated that if PIA will apply for a similar 12-year financing facility for purchase of aircrafts, then Exim Bank will definitely consider it.
Chairman Exim Bank observed that US investors had become more interested in investing in Pakistan due to its economic policies and Exim Bank will finance viable projects.