Dar appreciates ADB’s support to CAREC initiative

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Finance Minister meets President ADB
Observer Report

Urumqi

Minister for Finance, Revenue and Economic Affairs, Senator Mohammad Ishaq Dar held a meeting with President Asian Development Bank (ADB) Takehiko Nakao, in Urumqi, China and discussed various matters related to ADB financed development projects in different sectors.
The Finance Minister appreciated ADB’s support to the CAREC initiative which was helping to bring the member countries closer through cooperation in areas like trade and transportation, according to a statement received here on Friday.
He said that regional connectivity was extremely important for the member countries of CAREC as this region has lacked regional trade and cooperation in the past compared to other regions in the world.
He said that ADB’s support to CAREC Institute was also commendable and hoped that the Institute will play its due role in devising innovative solutions for regional development issues.
Nakao thanked the Minister for his continued encouragement for ADB supported initiatives in Pakistan and assured to further enhance the level of cooperation in the years to come.
He said that ADB would continue to lend financial and technical support to the CAREC member countries wishing to enhance regional cooperation. He said that there was immense potential for regional connectivity projects in the CAREC region.
Finance Minister and President ADB also discussed matters related to various on-going ADB funded projects in Pakistan as well those in the pipeline.