Collaborative Effort: Pakistan and China Set to Ink Memorandum of Understanding to Alleviate Poverty

Pakistan and China have reached a historic agreement to combat poverty and bolster development through the Global Development Initiatives (GDI). This momentous Memorandum of Understanding (MoU) is set to be inked during the upcoming visit of Prime Minister Shehbaz Sharif to China on November 2.

The MoU signifies a harmonious partnership between the China International Development Cooperation Agency and Pakistan's Economic Affairs Division, who have jointly committed to strengthening development cooperation and advancing the GDI, an initiative proposed by President Xi Jinping. It acknowledges that both nations, with their enduring friendship, are committed to addressing the pressing challenges faced by developing countries in achieving the 2030 Sustainable Development Goals.

Under the GDI framework, China and Pakistan pledge to expand cooperation actively, utilizing various financial tools such as Chinese grants, interest-free loans, concessional loans, and collaboration through the global development and South-South cooperation fund. Pakistan expresses its readiness to seek funding as required for specific projects.

Both nations are resolute in their dedication to jointly promoting the 2030 Sustainable Development Goals, fostering tripartite cooperation, and executing projects that uplift Pakistan's economy and enhance the well-being of its people. Their focus will encompass a wide array of sectors, including poverty reduction, healthcare, education, infrastructure, agriculture, planning, culture, law enforcement, human resource development, think tank exchanges, and more, all aligned with the GDI's principles.

To ensure the effective implementation of development cooperation, both sides agree to establish a consultation mechanism and conduct regular meetings, while annual director-level delegations will facilitate exchange and issue resolution.

Additionally, they commit to conducting joint inspections to monitor and assess assistance projects, maintaining their integrity and efficacy. A significant development took place on October 25th when Pakistan signed the United Nations Sustainable Development Cooperation Framework (UNSDCF) for five years (2023-2027). This pivotal agreement underscores Pakistan's commitment to achieving the Sustainable Development Goals.

Secretary of the Economic Affairs Division, Dr. Kazim Niaz, signed on behalf of Pakistan, while the UNSDCF was represented by Resident & Humanitarian Coordinator Julien Harneis. Pakistan expressed deep appreciation for the UN's support and partnership, highlighting their alignment with national development priorities.

The UNSDCF, forged through extensive consultation, outlines five priority outcomes: basic social services, gender equality and women's empowerment, climate change and environmental sustainability, inclusive economic growth and decent work, and good governance. The framework will guide collaborative efforts from January 2023 to December 2027, with the UN pledging ongoing support for Pakistan's development journey.