{"id":88597,"date":"2022-09-12T11:24:52","date_gmt":"2022-09-12T06:24:52","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=88597"},"modified":"2022-09-12T11:24:58","modified_gmt":"2022-09-12T06:24:58","slug":"aiib-paks-request-funding-fy-23","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/aiib-paks-request-funding-fy-23.html","title":{"rendered":"AIIB to consider Pak&#8217;s request for higher funding for FY 23"},"content":{"rendered":"\n<p>Islamabad: The Asian Infrastructure and Investment Bank (AIIB) has decided to consider Pakistan\u2019s request to enhance financial support to USD 1 billion for the fiscal year 2022-23 (FY-23), news sources reported.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/aiib-wastewater-project-lahore.html\" data-type=\"post\" data-id=\"88520\" target=\"_blank\" rel=\"noreferrer noopener\">AIIB to support Water and Wastewater Management Project in Lahore<\/a><\/p>\n\n\n\n<p>Reportedly, during a meeting with the AIIB team led by its Director General (DG) Investment Supee Teravaninthom, Finance Minister Miftah Ismail stressed that the government needed additional financial help to fulfil the fiscal objectives and balance of payment concerns. The minister said that the <a href=\"https:\/\/www.zameen.com\/news\/flood-in-pakistan-western-firms-funds.html\" data-type=\"post\" data-id=\"88390\" target=\"_blank\" rel=\"noreferrer noopener\">recent floods<\/a> and the higher-than-expected external pressure on the economy require more financing to meet the target numbers.<\/p>\n\n\n\n<p>On the occasion, Director General (DG) Teravaninthom said that the matter of more funds will be picked up in the upcoming board meeting, and the final decision will be conveyed to the government.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/wb-repurposing-usd-300-mn-flood-victims.html\" data-type=\"post\" data-id=\"88549\" target=\"_blank\" rel=\"noreferrer noopener\">World Bank announces repurposing USD 300 mn for flood victims<\/a><\/p>\n\n\n\n<p>It is important to note that the government is expected to receive USD 500 million in budgetary support and 250 million in funding for the Resilient Institutions for Sustainable Economy (RISE) and Programme for Affordable Clean Energy (PACE) programs. Both projects are expected to lower pressure on the foreign exchange reserves (FOREX), which is under extreme pressure due to external and internal macroeconomic changes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Asian Infrastructure and Investment Bank (AIIB) has decided to consider Pakistan\u2019s request to enhance financial support to USD 1 billion for the fiscal year 2022-23 (FY-23), news sources reported. Read: AIIB to support Water and Wastewater Management Project in Lahore Reportedly, during a meeting with the AIIB team led by its Director General (DG) Investment Supee Teravaninthom, Finance Minister Miftah Ismail stressed that the government needed additional financial help to fulfil the fiscal objectives and balance of payment concerns. The minister said that the recent floods and the higher-than-expected external pressure on the economy require more financing to meet the target numbers. On the occasion, Director General (DG) Teravaninthom said that the matter of more funds will be picked up in the upcoming board meeting, and the final decision will be conveyed to the government. Read: World Bank announces repurposing USD 300 mn for flood victims It is important to note that the government is expected to receive USD 500 million in budgetary support and 250 million in funding for the Resilient Institutions for Sustainable Economy (RISE) and Programme for Affordable Clean Energy (PACE) programs. Both projects are expected to lower pressure on the foreign exchange reserves (FOREX),&hellip;<\/p>\n","protected":false},"author":84,"featured_media":61474,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[20385],"tags":[53997,53995,53994,53996],"persona":[],"class_list":{"0":"post-88597","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-development-projects","8":"tag-aiib-news","9":"tag-aiib-pakistan","10":"tag-aiib-to-consider-paks-request-for-higher-funding-during-fy-23","11":"tag-asian-investment-and-infrastructure-bank","12":"cat-20385-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>AIIB to consider Pak&#039;s request for higher funding for FY 23- Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Asian Infrastructure and Investment Bank (AIIB) has decided to consider Pakistan\u2019s request to enhance financial support to USD 1 billion\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/aiib-paks-request-funding-fy-23.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AIIB to consider Pak&#039;s request for higher funding for FY 23- Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Asian Infrastructure and Investment Bank (AIIB) has decided to consider Pakistan\u2019s request to enhance financial support to USD 1 billion\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/aiib-paks-request-funding-fy-23.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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