ADB to provide additional funding of $2.5bn in FY23

May 12, 2022 (MLN): The Asian Development Bank (ADB)  will provide the additional support of $2.5 billion for FY23, from which $1.5-2 billion can be available in the ongoing calendar year.

This was indicated by Country Director ADB, Mr Yong Ye, during a meeting with Federal Minister of State for Finance and Revenue Dr Aisha Ghous Pasha at the Finance Division today. Senior officers of the Ministry of Finance participated in the meeting.

Welcoming the team from ADB, the Minister of State for Finance and Revenue acknowledged that ADB has always assisted in the pursuance of reform and development agenda in the country. She acknowledged the all-weather and trusted partnership of ADB with Pakistan, especially in the areas of energy, education, and fiscal & debt management. Further, she shared that currently Pakistan is facing various fiscal and monetary challenges but the present government is keenly working on various structural reform measures to bring back the economy on an inclusive and sustainable growth path.

The Country Director ADB briefed the Minister of State on ADB’s portfolio and the country's strategy. It was shared that ADB is devoted to providing the support for reform agenda of SOEs governance and regulations, women's inclusive finance sector development and PPP frameworks. Moreover, ADB indicated the additional support of $ 2.5 billion for the next FY, from which $1.5-2 billion can be available in the ongoing calendar year.

While concluding, Federal Minister of State for Finance and Revenue Dr Aisha Ghous Pasha thanked Mr Yong Ye and his team for their dedication and assured them of full support and speedy implementation of the ongoing programs.

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