PARIS: Federal Finance Minister Senator Mohammad Ishaq Dar has said that Pakistan highly values the financial assistance provided by French Development Agency (AFD) to Pakistan in important sectors including energy, water and sanitation.
During meeting with AFD Chief Executive Officer (CEO) Remy Rioux in Paris, Dar said that the government of Pakistan appreciates AFD’s support for improving the transmission efficiency and water and sanitation in Pakistan.
The CEO appreciated the progress that Pakistan has made in stabilising economy and taking it to a higher trajectory of growth.
AFD announced that for the year 2016, it has approved a portfolio of Euros 265 million as soft loans for rehabilitation of Mangla Hydropower plant, augmenting NTDC transmission capacity and budget support for energy sector reforms.
The AFD has joined ADB and JICA in the five year budget support programme initiated in 2014 for strengthening accountability and transparency in the energy sector.
AFD has been operating in Pakistan since 2007. It is promoting green and inclusive growth and has been focusing on renewable energy and energy efficiency projects.
On the other hand, Open government Partnership (OGP) Chief Executive Officer Sanjay Pradhan called on the Finance Minister in the Embassy of Pakistan and congratulated Pakistan on joining the elite group of members of OGP.
He invited Pakistan to participate in the meetings of various OGP Working Groups and Steering Committees and offered help in developing Pakistan’s National Action Plan for OGP.
Dar said that Pakistan’s decision to join OGP demonstrates the government’s commitment to transparent and accountable governance. He reiterated the government’s pledge to work against corruption and fiscal fraud and further high level commitments to fully achieving and sustaining the principles of OGP.
Renault, the French largest car manufacturing company, Middle East Division Head Bernard Cambier also met with the finance minister.
They reaffirmed Renault’s decision for setting up their car manufacturing facility in Pakistan by 2018. Dar appreciated Renault’s decision for choosing Pakistan for establishing their car facility and assured full support for Renault’s operations in Pakistan.
The finance minister also interacted with French and Pakistani media and briefed them on the outcome of his visit.
The meetings were also attended by Economic Affairs Division Secretary Tariq Bajwa, Pakistan, Ambassador of Pakistan to France Moinul Haque and the Embassy team.
