ADB reaffirms continued support to Pakistan

TBILISI: The Asian Development Bank (ADB) on Monday reaffirmed continued support to Pakistan, lauding the government’s measures to bring about macroeconomic stability in the country.

The assurance was given by President Asian Development Bank (ADB) Masatsugu Asakawa during a meeting with a Pakistani delegation led by Minister for Economic Affairs Ahad Khan Cheema in Georgian Capital Tbilisi.

The President ADB reposed trust in Pakistan’s reform agenda and appreciated the required tough stabilization measures taken by the government to bring about macroeconomic stability in the country.

He assured Pakistan of its continued support in the areas of Public Private Partnership, climate and disaster resilience enhancement, Domestic Resource Mobilization, promoting Women Inclusive Finance and Energy Sector reforms.

The Minister urged ADB to deploy the additional resources towards high impact interventions including climate actions in the most vulnerable countries.

Earlier, speaking during the business session of the ADB’s Board of Governors, Minister for Economic Affairs Ahad Cheema highlighted Government of Pakistan’s firm commitment to wide-ranging program to unlock Pakistan’s economic growth potential.

He said the economy is now on the consolidation path with improvements in inflation and some recovery of economic growth.

Ahad Cheema also held meetings with the senior leadership of the Asian Infrastructure Investment Bank and European Investment Bank to discuss their ongoing development portfolios in Pakistan and priority areas for future support.

He also held meetings with bilateral development partners including the United Kingdom, Germany and USA to further strengthen bilateral cooperation in key priority areas including end to end digitalization of taxation system, energy infrastructure and climate change.