The Government of Pakistan is getting limited financial assistance from Islamic Development Bank (IDB) after 9/11 due to easy availability of aid from major international financial institutions. Sources in Economic Affairs Division told Business Recorder here on Monday that Pakistan used to get significant amount of financial aid from IDB before conducting the nuclear explosions in May 1998, including $500 million annual credit line to replace oil prices.

The major powers including the European countries and US imposed sanctions on Pakistan following nuclear explosions and the IDB was the major source of financial aid to the isolated country (Pakistan) during that period.

The sources said that IDB is still interested in providing technical and financial assistance for different development projects, but Pakistan is reluctant to get aid from the Islamic financial institute as it has still not completed its full seat of $300 million in the IDB and only has half seat worth $150 million.

Sources said that due to half seat, Pakistan is not considered as big power in the bank like Egypt, Saudi Arabia and Iran as these countries have full seats of $300 million.

Talking about the current projects of the IDB in Pakistan, the sources said that projects worth $7 million are being run in Chaghi, Balochistan in water and agriculture sector.

Sources also informed about the $10 million project of the IDB for promotion of primary education in Balochistan, but he said that the provincial government due to reasons unknown has not launched the project, so far.

Copyright Business Recorder, 2005