Pakistan has officially sought China’s backing to join the New Development Bank (NDB) — a move designed to boost its access to multilateral development financing and strengthen economic collaboration with Beijing. The request was made during a meeting in Washington, DC, between Finance Minister Muhammad Aurangzeb and China’s Deputy Finance Minister Liao Min.
According to Pakistan’s Finance Division, Aurangzeb welcomed greater Chinese investment in priority sectors such as technology, agriculture, minerals, and manufacturing. He reaffirmed Pakistan’s commitment to ongoing economic reforms, citing the recently concluded staff-level agreement with the IMF as evidence of renewed global confidence in the country’s economic trajectory.
Aurangzeb also briefed Liao Min on progress toward issuing a Panda Bond in China’s financial market and expressed appreciation for the IMF Executive Director’s Office’s continued support. He extended an invitation to Liao to visit Pakistan at a convenient time. The meeting highlighted the deepening partnership between Pakistan and China as Islamabad intensifies efforts to attract foreign investment and enhance its role in regional development initiatives.
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