Islamabad, Nov 5: Asian Development Bank(ADB) plans to launch 7 new projects in Pakistan in this year and 16 projects in the next year.
Ms.Emma Fan, the newly appointed Country Director for ADB in Pakistan, reported this progress during ongoing meeting with Finance Minister Senator Muhammad Aurangzeb.
They will cover sectors such as poverty, SOE and SMBs improvement, energy distribution, flood early warning systems, and FBR digitalization.
Senator Aurangzeb welcomed Ms. Fan and highlighted the need of ADB for supporting the growth of Pakistan.
He explained ongoing reforms in Pakistan on account of taxation, state owned enterprises and energy sectors for efficiency and governance.
He also looks forward for enhanced cooperation with Asian Development Bank in next few years. Ms. Fan complimented Pakistan on reforms and informed that ADB develops a new approach for the climate change, economic growth, and sustainable development.
She also briefly discussed the current projects undertaken by ADB and future projects, which are available for Pakistan such as the budgetary support for policy-based reforms and funds for the stabilization of Pakistan economy.
The current credit portfolio of Asian Development Bank in Pakistan is intended to improve connectivity, independent institutions and development sectors.
These enhancements are going to be led by the association between ADB and Pakistan which attests to ADB’s function in Pakistan’s economic and societal advancement.
