Pakistan seeks OPEC Fund financing for M-6 motorway

Pakistan's finance minister, Senator Muhammad Aurangzeb, met the president of the OPEC Fund for International Development, Dr Abdulhamid Alkhalifa, on the sidelines of the World Bank Group–IMF Annual Meetings 2026 in Bangkok to discuss financing for key infrastructure projects, including the M-6 motorway, according to a news release.

The talks covered the approved first tranche for the M-6 project, the pending loan agreement and subsequent tranches, the release said. The ML-1 railway modernisation and power transmission infrastructure were also identified as priorities, with both sides emphasising faster approvals and closer coordination. Aurangzeb thanked Dr Alkhalifa for an invitation to visit the OPEC Fund, where the project agreement could potentially be signed.

In a separate meeting, Aurangzeb discussed Pakistan's economic outlook and sovereign credit profile with representatives of Moody's. The release said the discussions covered a recent rating upgrade, improved fiscal and external indicators and renewed access to international capital markets. The minister outlined efforts to replace costly short-term debt with longer-maturity financing without increasing the external debt stock, while the delegation noted rising foreign exchange reserves, a contained current account deficit and reduced State Bank forward liabilities.

Aurangzeb also met the chief executive of the International Islamic Trade Finance Corporation, Engineer Adeeb Y. Al Aama, to review the remaining financing tranche and explore aligning borrowing costs with improved market conditions. The two sides agreed that technical teams would examine possible adjustments to pricing and financing volume. The discussions also covered digital product passports for Pakistani textile exports to the European Union and single-window connectivity for trade with ASEAN.

Separately, the finance minister met United Nations Deputy Secretary-General Amina J. Mohammed to discuss development financing, debt issues and climate resilience. Aurangzeb raised strengthening the Borrowers' Forum through peer learning, governance continuity and an effective virtual secretariat, and emphasised a stronger voice for the Global South and more responsive international financial institutions. Both sides stressed the need for adequate financing to meet the Sustainable Development Goals, reduce poverty, strengthen social protection and create jobs.