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ADB lauds Pakistan’s economic reforms, assures support

ISLAMABAD: The Asian Development Bank (ADB) has lauded economic reforms made by Pakistan and assured the bank’s complete support to the country.

ADB President Takehiko Nakao made this statement while talking to Finance Minister Asad Umar in Washington. The two sides discussed continuation of Pakistan’s ongoing engagement with the Asian Development Bank.

Asad Umar apprised the President Asian Development Bank of the current macro-economic situation in the country.

Earlier, the Finance Minister reviewed the World Bank’s Pakistan portfolio in a meeting with the World Bank team led by its Vice President for South Asia Hartwig Schafer.

Read: Pakistan approached IMF on its own conditions Fawad Chaudhry

They discussed the pipeline of projects as well as the sectors where World Bank could further scale up its interventions in Pakistan.

Umar also held a meeting with a team of World Bank’s Multilateral Investment Guarantee Agency led by its Chief Operating Officer Vijay Iyer. The two sides shared views about the privatization policy of the government and the expansion of public private partnership framework in the country.

The MIGA team apprised the Finance Minister of its current engagements in Pakistan. They informed that MIGA is now looking to expand its portfolio in the country.

Meanwhile, on the sidelines of the finance minister’s meetings during the IMF/WB spring meetings in Washington DC, the Finance Minister met the US Treasury.

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