Asian Development Bank signs grant agreement with Pakistan

Secretary Ministry of Economic Affairs, Dr. Kazim Niaz and Yong Ye, country director Asian Development Bank Tuesday signed a grant agreement.

The US$5m grant is from Japan fund for prosperous and resilient Asia and the pacific administered by ADB to Pakistan for the Emergency Flood Assistance Project’s Additional Financing.

The additional financing will be used to expand the scope of the original project, particularly to support, urgent provision of climate-resilient seeds for staple crop cultivation and women-led livelihoods.

Japan is one of the largest shareholders of ADB and has also been extending generous bi-lateral support for key economic development projects and natural disaster challenges faced by Pakistan.

The Grant Project Agreement between the Government of Balochistan and ADB as well as Outputs Agreement with Food and Agriculture Organization of the United Nations were also signed in the same ceremony.