Pak-ADB reiterate to expand economic portfolio

Mohammad Arshad

Pakistan and Asian Development Bank (ADB), Monday, reiterated their strong commitment to expand Pakistan’s economic portfolio.

Federal Minister for Economic Affairs Makhdum Khusro Bakhtyar and ADB’s new Director General the Central and West Asia Department Yevgeniy Zhukov held a virtual meeting and discussed and agreed to expand cooperation in the areas of Trade and Competitiveness, Social Protection (Ehsaas Program), Public Private Partnership, operationalization of the EXIM Bank, and Domestic Resource Mobilization.

The DG acknowledged Government of Pakistan’s commitment to reform process and economic recovery.

He reiterated ADB’s commitment work closely with the Government of Pakistan to develop more meaningful projects aligned with the country’s needs and regulatory frameworks.

The DG and the Minister agreed to continue discussing ways to deepen ADB and Pakistan’s development partnership and ensure effectiveness of the ongoing portfolio.

The Secretary Economic Affairs Division and Xiaohong Yang, Country Director, ADB also joined the meeting.

The Minister appreciated ADB’s role as a trusted development partner of Pakistan especially in terms of the quality of the portfolio and support keeping in view the emerging needs of the country that includes ADB’s timely support to fight the Covid-19 pandemic.

The Minister highlighted that despite challenges posed by Covid19 and worldwide contraction, the key economic indicators are showing encouraging results owing to the Government’s strong commitment for the structural reforms.