ADB to grant $1.5mln for NDRMF

ISLAMABAD: Asian Development Bank (ADB) has signed an agreement with Pakistan to extend a grant worth $1.5 million for fostering resilience and reducing disaster risk in Khyber Pakhtunkhwa province, a statement said on Friday.

The accord was signed by Noor Ahmed, Secretary, Economic Affairs Division (EAD), and Xiaohong Yang, Country Director, Asian Development Bank (ADB), signed a grant agreement for National Disaster Risk Management Fund (NDRMF).

The statement said the grant was provided by the government of Switzerland through ADB and a “Project Agreement for Swiss Grant” was also inked on the occasion between ADB’s Yang and Nadeem Ahmed, chief executive officer NDRMF.

Secretary EAD, addressing the signing ceremony, appreciated the ADB’s continued support for Pakistan since 1966, while Yang also acknowledged the efforts of EAD for smooth and timely implementation of the projects.