- Great fall of China sinks world stocks, dollar tumbles
- IMF official says ‘premature’ to speak of Chinese crisis
- Weekly inflation rate falls by 0.35 pct
- Disappointing business surveys intensify world growth fears
- Oil dives below $40 after rise in U.S. oil rigs
- Germany wants IMF involved in Greek bailout for reform rigour: sources
ADB considering to enhance funding for Pakistan
Executive Director of the bank, Sami Saeed made this assurance during his meeting with Finance Minister Ishaq Dar in Islamabad on Tuesday.
Sami Saeed said the ADB has approved the amount of 225 million dollars for the flood affectees.
He said the bank is planning to contribute towards “Disaster Management Fund” for Pakistan along with other donors, enhancing the country’s capacity to guard against natural calamities.
He said another 400 million dollars are ready to be disbursed to Pakistan under the Energy Sector Reforms Programme after the Board’s approval.
Speaking on the occasion, Ishaq Dar appreciated the ADB support for Pakistan and said that the bank has been a great development partner for Pakistan.