Finance Minister lauds ADB’s role in promoting climate-conscious programs

F.P. Report

ISLAMABAD: Country Director Asian Development Bank Young Ye called on Finance Minister Muhammad Aurangzeb in Islamabad today to discuss ongoing collaborations and future initiatives aimed at fostering economic development in Pakistan.

ADB Country Director Young Ye congratulated the Minister on staff level agreement with the IMF and stated that the market has positively responded to the development.

During the meeting, Muhammad Aurangzeb expressed appreciation for the support provided by the Asian Development Bank over the years. He particularly highlighted ADB’s assistance through Policy Based Lending 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 were also discussed.

Acknowledging Asian Development Bank’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. He outlined government’s priority areas for achieving macro-economic stability and sustainability, including measures to enhance revenue, State Owned Enterprises reforms, privatization, and public-private partnerships.

Both the sides reaffirmed their commitment to strengthening the partnership between Pakistan and the Asian Development Bank, with a shared goal of promoting sustainable economic growth and development in the country.