Pakistan

ADB vice president meets PM Imran, pledges $7bn for development projects – Pakistan

Vice President of the Asian Development Bank (ADB), Shixin Chen, who is on his first two-day official visit to Pakistan, met with Prime Minister Imran Khan and "reaffirmed the support of the ADB for Pakistan's development priorities "a press release issued by the bank said on Friday. .

Other meetings of the ADB and the government also attended the meeting, held on Thursday.

The press release revealed that the ADB plans to provide $ 7 billion to Pakistan for "various development projects and policy-based programs" over the next three years.

"The ADB plans to provide Pakistan with around $ 7 billion in fresh assistance for various development projects and policy-based programs over the next three years under its commercial plan of operations in the country 2020–2022, aimed at developing the social protection, urban services, the country's energy security, transport, agriculture and water resources, education, commerce and tourism, this will help stimulate inclusive and sustainable economic growth, ”Chen said in the press release.

According to the statement, ADB also plans to begin a five-year Country Association Strategy (CPS) from 2020 to 2024. The CPS will be in line with the government's economic development program, as well as with the ADB 2030 Strategy.

"The new CPS will define development priorities to support Pakistan's economic transformation programs. The new strategy will also complement the efforts of other development partners," the statement said.

"ADB has a long-term development partnership with Pakistan. Over the past five decades, Pakistan and ADB have worked together to develop the country's key infrastructure, promote exports and efficiency of the private sector, reform public sector management, develop the The country's financial market, improve urban services, provide emergency assistance and prioritize the development of the social sector, "Chen said.

"ADB is committed to supporting the government's reform agenda to promote inclusive and sustainable economic growth, develop key infrastructure, strengthen regional cooperation, attract investments and promote industry and the private sector," said ADB Vice President.

During his visit, Chen also met with the Advisor to the Prime Minister of Finance and Income, Abdul Hafeez Shaikh, Special Assistant to the Prime Minister of Social Protection and Poverty Relief, Sania Nishtar, Minister of Energy, Omar Ayub Khan, Federal Minister of Planning and Development, Makhdoom Khusro Bakhtyar. , Minister of Economic Affairs, Hammad Azhar Division and other government officials.

Chen also visited the Hassanabdal-Havelian Highway (E-35), which was built with the assistance provided by ADB and the UK Department of International Development. He also visited the Pehur Irrigation Project, which is underway in Khyber Pakhtunkhwa and is being funded by ADB.

Source: https://www.dawn.com/news/1502590/adb-vice-president-meets-pm-imran-pledges-7bn-for-development-projects

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