Finance Minister & Country Director of ADB reaffirm their commitment to strengthening the partnership b/w Pakistan & ADB

ISLAMABAD, March 21 (SABAH): The Country Director of the Asian Development Bank (ADB), Young Ye, called on Minister for Finance and Revenue, Muhammad Aurangzeb, at Finance Division on Thursday to discuss ongoing collaborations and future initiatives aimed at fostering economic development in Pakistan.

ADB Country Director, Young Ye, congratulated Minister for Finance and Revenue on staff level agreement with the IMF and stated that the market has positively responded to the development. During the meeting, Minister Muhammad Aurangzeb expressed appreciation for the support provided by ADB over the years. He particularly highlighted ADB’s assistance through Policy Based Lending (PBL) to mitigate the impacts of the pandemic and floods. Furthermore, the status of ongoing policy-based programs, including the Public Private Partnership (PPP) Program and the Climate and Disaster Resilience Enhancement Program (CDREP) were also discussed.

Acknowledging ADB’s pivotal role in promoting climate-conscious programs across Asia and the Pacific, the Minister emphasized the alignment of ADB’s climate operations with Pakistan’s own climate goals and commitments. The Minister outlined Government’s priority areas for achieving macro-economic stability and sustainability, including measures to enhance revenue, SOEs reforms, privatization, and public-private partnerships.

Concluding the meeting, both parties reaffirmed their commitment to strengthening the partnership between Pakistan and ADB, with a shared goal of promoting sustainable economic growth and development in the country.