ADB urged to scale up lending for Pakistan

Jul 18, 2019: Federal Minister for Economic Affairs, Hammad Azhar Thursday urged the Asia Development Bank (ADB) to scale up its lending to Pakistan including programme lending and project financing.

He was talking to ADB Country Director, Ms. Xiaohong Yang who called on the minister here, according to press statement issued by the Ministry.

The Minister acknowledged the ADB’s support for Pakistan and discussed key priority areas and new avenues for future interventions.

The Minister reiterated that the government was keen to explore innovative financing models and mobilize investment in infrastructure and social sectors. These initiatives will not only provide fiscal space to the government but also help boost economic activities in the country, he added.

On the occasion, Yang congratulated Azhar on his appointment as Federal Minister.

Yang said that ADB and Pakistan had successfully met many development challenges and assured the Minister of the Bank’s support in the priority sectors as identified by the present government.

Yang also briefed the Minister on ADB’s ongoing interventions and pipeline projects and updated him about the bank’s Programme Lending and Special Policy-Based Loan including Trade and Competitiveness Programme, Energy Sector Resilience Programme and Capital Market Reforms Programme.

ADB was committed to expanding this partnership to increase prosperity of the people of Pakistan, she added.

The Country Director thanked the Minister and reiterated ADB’s commitment to further strengthen and expand its partnership with Pakistan.

APP