ISLAMABAD, Pakistan: A delegation of Asian Development Bank (ADB) headed by its Country Director Yong Ye held a meeting with the Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar at Finance Division in Islamabad on Wednesday.
The Minister of State for Finance and Revenue Dr. Ayesha Ghous Pasha Asad Aleem, the Deputy Country Director ADB Kiyoshi Taniguchi, the Principal Economist ADB Laisiasa Tora, the Senior Public Management Specialist ADB and Senior Officers from the Finance Division participated in the meeting.
Senator Ishaq Dar welcomed the delegation and appreciated ADB’s role and support in promoting sustainable development in Pakistan.
Finance Minister Senator Mohammad Ishaq Dar meets Mr. Yong Ye, Country Director, ADB,discussed progress on ongoing portfolio. FM appreciated ADB’s support particularly the forthcoming loan of US$ 1.5 Bn under BRACE program and appreciated ADB’s flood related commitments. pic.twitter.com/TBWEryJV8F
— Ministry of Finance (@FinMinistryPak) October 5, 2022
The finance minister apprised the delegation of devastation caused by the recent floods in the Country and its impact on the economy of Pakistan. He further stated that Pakistan’s economy faced huge challenges. The present government with its pragmatic policy decisions has not only arrested the decline but has also set the economy in the right direction.
The minister also shared the priorities of the present government.
The Country Director ADB Yong Ye extended felicitations to Ishaq Dar on assuming the charge of the office and expressed sympathy on the loss of lives and properties in the devastating floods in Pakistan.
Yong Ye informed the finance minister that ADB will provide flood relief support to Pakistan to the tune of US$ 2.3 to 2.5 billion including US$ 1.5 billion for the BRACE program which will be placed before the ADB Board for approval during this month.
The Country Director ADB also apprised the meeting about ongoing and future projects of ADB in different sectors including social protection, food security and energy sectors.
Regarding the Country Partnership Strategy for Pakistan 2021-25, it was shared that this strategy is in line with the vision of government of Pakistan.
In the end, the Finance Minister Ishaq Dar expressed gratitude to ADB delegation for their persistent support and assured them of full cooperation by the government for swift execution of the ongoing and future programs.