Pakistan’s federal minister invites Azarbaijani banks, assures of support

Finance Minister, Muhammad Aurangzeb, has invited Azerbaijan’s banks to come to Pakistan and assured of full support by the banking system in the country.

“Pakistan would welcome the banks coming into Pakistan and whatever the Pakistani banking system can do to help support, assess the investment and the trade flows between the two countries, we'll ensure that that happens,” Aurangzeb said during an interview with Azarbaijan Press Agency (APA).

He acknowledged opportunities between two countries from finance and investment perspective and underlined the importance of banking system, which facilitates the trade flows and investment flows.

Responding to a question, the minister said there was huge potential of investment flows between the two countries. “When the President of Azerbaijan was in Pakistan, he mentioned an investment, overall investment of $2 billion. So, the potential is huge”.

Earlier, Finance Muhammad Aurangzeb called for innovative solutions aimed at supporting vulnerable communities, particularly those who are least responsible for global emissions yet most affected by climate change.

Speaking at the "Acumen’s Climate Action Fund for Pakistan" event held at the Pakistan Pavilion during COP29 in Baku, he highlighted the launch of Pakistan’s first climate-focused fund.

This fund aims to enhance the resilience of the agricultural sector to the changing climate and ensure food security despite environmental challenges.

“The Acumen Climate Action for Pakistan (ACAP) Fund is the nation’s first private sector climate-focused fund. It aims to support businesses that build agricultural resilience and directly benefit small farmers,” the minister said.