Pakistan has formally sought China’s support for its membership in the New Development Bank (NDB) — formerly the BRICS Development Bank — as part of efforts to widen multilateral financing options and deepen economic cooperation with Beijing.
The request came during a meeting between Finance Minister Muhammad Aurangzeb and Liao Min, Deputy Finance Minister of China, held in Washington DC. Aurangzeb welcomed greater Chinese investment in Pakistan’s key sectors including agriculture, ICT, industry, and minerals, according to the Finance Division’s statement.
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The NDB, established by BRICS nations to fund infrastructure and sustainable development in emerging economies, has grown beyond its founding members — Brazil, Russia, India, China, and South Africa — to include several developing countries. Pakistan’s inclusion would mark a significant boost to its external financing prospects.
Aurangzeb also briefed his Chinese counterpart on Pakistan’s new IMF Staff-Level Agreement, calling it proof of economic stabilization efforts. He discussed plans to issue a Panda Bond in the Chinese market and invited Liao Min to visit Islamabad soon.
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At the World Economic Forum’s Future of Growth Dialogue, Aurangzeb stressed that technology-led growth must prioritize inclusion and resilience, citing AI-based tools like satellite imagery that have boosted productivity in developing nations.
