Pakistan is targeting around $1 billion in a formal request for funding from the IMF facility that helps low and middle income countries manage external shocks, its finance minister told Reuters.

“We have formally requested to be considered for this facility,” Finance Minister Muhammad Aurangzeb said in an interview on the sidelines of the IMF/World Bank autumn meetings in Washington.

The International Monetary Fund agreed a bailout for Pakistan last month, but has further funding available via its Resilience and Sustainability Trust (RST).

The country is also in talks with the Asian Infrastructure Investment Bank for a credit enhancement for a planned Panda bond, with an initial issue of $200-250 million.

According to Business Recorder, the finance czar is set to meet US Assistant Secretary of State for Energy Resources Geoffrey Ross Pyatt during his trip to Washington. The discussions will focus on issues within the energy sector.

Last week, US Ambassador Donald Blome called on Finance Minister Aurangzeb where they discussed economic matters, including the performance of Pakistan’s energy sector.

Sources told the news outlet that the US envoy requested details regarding the proposed re-profiling of Chinese power sector debts and its overall impact on Pakistan’s economy. The finance minister replied that China and Pakistan had engaged consultants to finalise agreeable terms for the debt re-profiling over the coming years.

He is expected to discuss ongoing issues related to five wind power projects established by the US International Development Finance Corporation as both parties have yet to reach a mutually agreed resolution.

In a meeting last May, the US ambassador “made it clear” that the DFC would refrain from investing in Pakistan until the issues regarding these wind power projects were resolved. The Pakistan Embassy in Washington has also informed Islamabad that “Washington is serious about resolving these matters” to facilitate future investments in the energy sector.