Pakistan to receive $3m emergency grant from ADB for flood relief
Asian Development Bank (ADB) President Masato Kanda has announced that a $3 million emergency grant from the
Asia Pacific Disaster Response Fund is ready to support Pakistan’s relief
efforts following devastating monsoon floods. The funding will be provided upon
the request of the Government of Pakistan.
“Pakistan is experiencing devastating flooding that has displaced families
and communities, and ADB stands firmly with Pakistan during this crisis,” Mr.
Kanda said, emphasizing the Bank’s rapid-response role in humanitarian support.
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Mr. Kanda is currently on a three-day visit to Pakistan, where he met with Prime Minister Shehbaz Sharif. Their discussions covered flood relief, long-term development projects, and Pakistan’s role as a future supplier of critical minerals for the global clean energy transition.
The ADB chief highlighted recent reforms and improved sovereign ratings,
reaffirming the Bank’s commitment to deepen engagement through investments in
transport, energy, urban infrastructure, education, and health.
During his visit, Mr. Kanda also:
·
Welcomed ADB’s $410 million financing package for the Reko Diq
Mining Project, marking its return to mining after 40 years.
·
Visited the Benazir Income
Support Program (BISP) One-Window Center in Islamabad, launching a new
grievance redressal mechanism.
·
Traveled to Lahore to
inspect Pakistan’s first ADB-financed
sustainable aviation fuel facility, which will convert waste
cooking oil into jet fuel for export.
·
Engaged with business leaders
to encourage greater private sector participation.
Mr. Kanda also held talks with key officials, including Finance Minister
Muhammad Aurangzeb, Minister for Economic Affairs Ahad Khan Cheema, and Punjab
Chief Minister Maryam Nawaz Sharif.
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Since joining ADB as a founding member in 1966, Pakistan has received more than $43 billion in development support. The current portfolio includes 44 projects worth about $9 billion.
Earlier, Kazakh President Kassym-Jomart Tokayev also conveyed condolences to
Prime Minister Shehbaz Sharif over the flood tragedy.
Source: https://qazinform.com/