Pakistan Development Fund (PDF) to become milestone in country’s progress
ISLAMABAD: (APP) Finance Minister Senator Mohammad Ishaq Dar and Country Director, Asian Development Bank (ADB) Werner Leipach Wednesday discussed matters relating to operationalization of Pakistan Development Fund (PDF).
Dar informed the ADB Country Director who called on Finance Minister that Pakistan has a huge appetite for infrastructure development and the government is looking at innovative ways of financing these infrastructure needs.
PDF was one such initiative and it is government's priority to operationalize the Fund in the first quarter of the next financial year.
He said that various bilateral and multilateral partners are likely to join the PDF.
He also invited the Asian Development Bank to join PDF as an equity partner. The Fund will act as a Development Finance Institution (DFI) and operate on commercial basis and will be completely independent in its working, the Minister added.
On the occasion, Leipach stated that ADB was keen to assist Pakistan in regard to PDF and could offer its technical expertise in the development of a commercial business plan with strategies and timeliness to operationalize and run Pakistan Development Finance Company.
PDF, it may be added, has been established by the government to finance infrastructure development projects in the country.