FO welcomes IDFC's plans to invest in Pakistan.

ISLAMABAD -- The Foreign Office (FO) on Thursday welcomed the United States International Development Finance Corporation's (IDFC) plans to invest in Pakistan, saying this would benefit the region.

Speaking at the FO's weekly press briefing, spokesperson Aisha Farooqui said: 'The meeting between Adviser to the Prime Minister on Commerce and Investment Mr Abdul Razak Dawood and the chief executive officer of U.S. International Development Finance Corporation Mr Adam Boehler ... would further strengthen efforts in concretising important development projects benefitting both Pakistan and Afghanistan and the region as a whole.'

Mr Boehler visited Pakistan with US Special Envoy for Afghan Reconciliation Ambassador Zalmay Khalilzad on Wednesday.

In a separate statement, the US Embassy said that during his meetings in Islamabad, Mr Boehler discussed investment opportunities to strengthen Pakistan's economy and contribute to peace and stability in the region.

The US had launched the IDFC in 2018 to rival China's Belt and Road Initiative. The idea was to counter what was seen in Washington as China's aggressive overseas development policies by co-investing with US and non-US private sector companies in infrastructure projects in countries that were part of China's BRI programme.

Washington has also been critical of the China-Pakistan Economic Corridor (CPEC). US officials allege that CPEC lacks transparency and is adding to Pakistan's debt burden. Islamabad rejects these allegations.

When asked if Pakistan too sees the IDFC as a rival to the BRI and CPEC, Ms Farooqui referred to the statement issued by the Ministry of Commerce, which said that Mr Dawood desired stronger...