Asian Development Bank approves another financial support programme for Pakistan

Shares
Asian Development Bank approves another financial support programme for Pakistan

Country Director Asian Development Bank (ADB), Yong Ye, called on Federal Minister for Economic Affairs, Omar Ayub Khan, at the Ministry of Economic Affairs, Islamabad, on Thursday.

Omar Ayub Khan congratulated Yong Ye on assuming the charge of ADB Country Director in Pakistan. In the meeting, the two sides discussed the joint endeavors of the Government of Pakistan and ADB, especially with reference to the ADB’s technical and financial support to Pakistan, including the bank’s commitment of providing US$ 600 million for the Ehsaas Program under its under the ADB Country Operation Business Plan (2021-2023).

The ADB Country Director briefed the Minister on ADB’s portfolio in Pakistan. He highlighted that ADB had committed to providing US$ 6.3 billion under its Country Operation Business Plan (2021-2023) to Pakistan. He said ADB recently negotiated a new program with the Government of Pakistan for providing US$ 600 million for Integrated Social Protection Development.

This program, he affirmed, will support the Pakistani government’s efforts to implement high priorities from its Ehsaas Program (social protection and poverty reduction) in a coordinated, cohesive, and systematic manner. Under this program, institutional capacity for social protection and climate resilience will also be strengthened.

At present, Yong Ye said, 32 projects worth US$ 6.4 billion of various sectors including energy, road and transport, agriculture and irrigation, urban services, education, health, and social protection are being executed. He added that access to primary and secondary education, health services, and nutrition supplies would be enhanced for women (especially mothers), adolescents, and children of poor families. He reiterated ADB’s commitment to continuing its technical and financial support to the Government of Pakistan for priority areas.