Asian Development Bank committed to Pakistan's development
The Asian Development Bank (ADB) has reiterated its
unwavering support for Pakistan, affirming its commitment to continued
collaboration. President of the ADB, Masatsugu Asakawa, conveyed this assurance
during a meeting with a delegation from Pakistan, led by Minister for Economic
Affairs Ahad Khan Cheema, held in the Georgian capital, Tbilisi.
President Asakawa expressed confidence in Pakistan's reform
agenda and commended the government's proactive measures to achieve
macroeconomic stability. He pledged ongoing assistance to Pakistan in various
domains, including Public-Private Partnerships, climate resilience, disaster
management, domestic resource mobilization, promotion of inclusive finance for
women, and reforms in the energy sector.
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emerges as the fifth largest beneficiary of ADB loans and grants
In turn, Minister Cheema urged the ADB to allocate
additional resources for impactful interventions, particularly focusing on
climate initiatives in regions most susceptible to environmental challenges.
During the ADB's Board of Governors' business session,
Minister Ahad Cheema underscored Pakistan's steadfast commitment to a
comprehensive program aimed at unlocking the nation's economic potential. He
noted positive developments in inflation rates and signs of economic recovery,
indicating a trajectory towards economic consolidation.
Furthermore, Minister Cheema engaged with senior officials
from the Asian Infrastructure Investment Bank and the European Investment Bank
to explore ongoing development initiatives in Pakistan and identify priority
areas for future support. Additionally, discussions with bilateral development
partners, including the United Kingdom, Germany, and the USA, centered on
enhancing cooperation in key sectors such as digitalization of taxation
systems, bolstering energy infrastructure, and addressing climate change
concerns.
Source: Pakistan Observer