Ayaz urges ADB for CSF approval

ISLAMABAD: Federal Minister for Economic Affairs Sardar Ayaz Sadiq has asked the Asian Development Bank (ADB) for early approval of Countercyclical Support Facility (CSF), mentioning current commodity and energy high prices across the globe.

ADB country director Yong Ye called on Sadiq on Friday to discuss ongoing ADB portfolio in the country and matters of mutual interest. The Bank’s deputy country director Asad Aleem and senior project officer in the ministry Shaukat Shafi were also present in the meeting.

The ministry appreciated ADB’s long standing and trusted partnership since 1966 and support of over $25 billion, for priority areas, including economic reforms, energy, road and transport, agriculture, water, and social sector.

Sadiq also hailed ADB support during the current flood situation of the country and expressed the need of collaboration to strengthen flood resilience. He mentioned ADB assistance in economic stabilisation of the country during testing times of the pandemic.