ADB Country Director reiterates bank’s commitment to further strengthen partnership with Pakistan

ISLAMABAD: Xiaohong Yang, Country Director, Asian Development Bank (ADB) called on Muhammad Hammad Azhar, Federal Minister for Economic Affairs.

Yang congratulated Azhar on his appointment as Federal Minister.

Minister for Economic Affairs acknowledged the ADB’s support for Pakistan and discussed key priority areas and new avenues for future interventions.

The minister reiterated that the government was keen to explore innovative financing models and mobilize investment in infrastructure and social sectors. These initiatives will not only provide fiscal space to the government but also help boost economic activities in the country.

He also urged the ADB to scale up its lending to Pakistan including programme lending and project financing.

Yang said that ADB and Pakistan had successfully met many development challenges. She assured the Minister of the Bank’s support in the priority sectors as identified by the present government.

Ms. Yang also briefed the minister on ADB’s ongoing interventions and pipeline projects. She updated the Minister about the ADB’s Programme Lending and Special Policy-Based Loan including Trade & Competitiveness Programme, Energy Sector Resilience Programme and Capital Market Reforms Program.

ADB is committed to expanding this partnership to increase prosperity of the people of Pakistan, she added.

The Country Director thanked the minister and reiterated ADB’s commitment to further strengthen and expand its partnership with Pakistan.