Govt to expedite implementationof ADB-funded projects

ISLAMABAD: Ministry of Planning Development and Reform will expedite implementation of ADB-funded projects through removing hurdles and gaps in the disbursement process, a minister said on Thursday.

Planning Minister Khusro Bakhtyar said efforts are underway to speed up the implementation of projects financed by the Asian Development Bank (ADB) through streamlining the process to achieve the country’s development strategy and socioeconomic goals.

“It has been decided to review the ongoing ADB portfolio every month in consultation with all relevant stakeholders to remove bottlenecks and gaps in implementation of projects,” Bakhtyar said in a statement.

The planning minister was talking to an ADB delegation led by Vice President (Operations-I) Shixin Chen. The meeting decided to improve the disbursement process for early implementation of ongoing projects. It was apprised that ADB ongoing portfolio (loans and grants) amounted to $6.15 billion against 50 projects out of which $1.98 billion had been disbursed.

The minister said ADB portfolio might be expanded to include other priority areas, while welcoming the ADB’s indicative assistance of $7.5 billion over the next three years for Pakistan.

“The bank’s (ADB) country partnership strategy for 2020-2024 is under preparation and the bank may consider supporting new areas including clean and green Pakistan initiative, information and communications technology, higher education, housing sector, water supply for Islamabad and improving governance structures for achieving sustained development,” he added.

Chen said the bank has long lasting and strong partnership with Pakistan and expressed confidence that future partnership would further be strengthened.

Meanwhile, ADB Vice President said the bank would support Pakistan and finance projects according to the development priorities of the government. He was called on Minister for Economic Affairs Hammad Azhar.

Chen assured the minister of bank’s resolve to expand partnership with Pakistan to finance the priority projects.

The vice president said enhanced capacity of government functionaries, continuity of the postings and enhancing procurement rules are of paramount importance to complete development project within time and allocated budgets and to streamline the procedures. “Pakistan is an important country for ADB and he wants to make this relationship stronger,” Chen said.

Azhar thanked the ADB for disbursing $500 million for trade and competitiveness program which, he said would help in addressing structural reforms in trade sector.

“Investing in human capital, protecting poor and the vulnerable, undertaking institutional and governance reforms are high priorities of the government,” he said.

The meeting discussed ADB’s country operations business plan for Pakistan (2020-2022). It was further agreed that the country operations business plan would be finalised with mutual deliberations between ADB and the Economic Affairs Division.

It was agreed that priority would be given to agriculture, water and sanitation, renewable energy, climate change, tourism, housing, education, health and social sector projects.