ISLAMABAD: The visiting President of the Asian Development Bank (ADB) has pledged the Manila-based bank’s readiness to assist in the launch of inaugural Panda Bond and other innovative financing instruments for Pakistan.
A meeting was held on Wednesday between Senator Muhammad Aurangzeb, federal minister for Finance and Revenue, and Masato Kanda, president of the Asian Development Bank (ADB), at the Finance Division.
In his tweet, the ADB president stated that from Reko Diq’s vast copper-gold reserves to Pakistan’s broader critical mineral wealth, the country is set to become a key supplier in the global clean energy transition. “I have arrived in Pakistan to deepen our partnership and advance transformative opportunities. As demand for critical mineral rises, the ADB Headquarters support for Reko Diq will help create jobs, boost local development and set new standards for responsible mining and inclusive growth,” he stated.
The ADB president also visited the Benazir Income Support Program facility in Islamabad and said the ADB supported the government of Pakistan in strengthening and expanding the BISP since its inception and “we remain committed to building stronger social protection system”.
The finance minister welcomed the ADB president and appreciated the bank’s strong and consistent partnership with Pakistan. He conveyed gratitude for the ADB’s expression of solidarity and reiterated Pakistan’s determination to build climate resilience and strengthen disaster preparedness in the aftermath of recent floods.
The finance minister highlighted Pakistan’s steady economic progress despite multiple challenges in recent years. He acknowledged the ADB’s continued and substantial support to Pakistan in recent years. Looking to the future, he underscored Pakistan’s priorities for deeper collaboration with the ADB across key areas, including energy transition, climate resilience, transport and logistics, human capital development, and resource mobilization. He welcomed the bank’s strong medium-term commitment to Pakistan and encouraged enhanced collaboration in policy-based financing, capital markets development, private sector participation, and innovative instruments such as Green Bonds, blended finance, and Debt-for-Nature swaps.
