ADB reiterate support to Pakistan’s economic portfolio

March 30, 2021

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Asian Development Bank (ADB) has reiterate support to Pakistan for expansion of their economic portfolio.

The understanding was reached during a hypothetical meeting of the Minister of Economic Affairs, Makhdoom Khusro Bakhtiyar with the new Director General of the Central and West Asia Department of the Asian Development Bank, Yevgeniy Zhukov.

During the meeting, the Minister expressed his gratitude for the role of the Asian Development Bank as a reliable partner of Pakistan in the field of development, especially in terms of portfolio quality and support, taking into account the emerging needs of the country, including support from Asia. countries. The Development Bank is fighting the Covid-19 pandemic in a timely manner.

He noted that despite the challenges posed by the COVID-19 virus and the global recession, key economic indicators are showing encouraging results thanks to the government’s strong commitment to structural reforms.

The Director General recognized the government’s commitment to the reform process and economic recovery.

He emphasized the ADB’s commitment to working closely with Pakistan to develop more feasible projects according to the needs and regulatory framework of the country.

The parties discussed and agreed to expand cooperation in the areas of trade and competitiveness, social protection, public-private partnerships, activation of the Export-Import Bank and mobilization of internal resources.

The Director-General and the Minister agreed to continue discussions on ways to deepen the activities of the Asian Development Bank and Pakistan’s development partners and ensure the effectiveness of the current portfolio.