ADB eyes increasing assistance to Pakistan

Forecasting the country’s growth trajectory, increases its development assistance in infrastructure


APP October 26, 2016
PHOTO: AFP

ISLAMABAD: Given Pakistan’s strong credentials and forecasting the country’s growth trajectory, the Asian Development Bank is considering increasing its development assistance in infrastructure, roads and railways, port facilities, railways and energy sector to Pakistan.

The visiting ADB President Takehiko Nakao met with Finance Minister Ishaq Dar on Tuesday and congratulated him for leading the reforms under the IMF programme.

Pakistan, ADB to ink $250m loan next week

Speaking ADB’s future plans on cooperation with Pakistan, he said that the completion of the three-year IMF reform was seen as Islamabad’s commitment to economic stability.  He said that with high forex reserves, single digit inflation, and high growth projections, ADB considers Pakistan an excellent development partner.

Nakao underscored that Pakistan’s inclusion in the Morgan Stanley Index for emerging economies was a testament of its transformation to a stable economy. The ADB president is visiting Pakistan for official talks with the finance minister on the ADB’s country partnership and for attending the 15th Central Asia Regional Economic Cooperation (CAREC) conference which Pakistan was hosting in collaboration with ADB on October 25 and 26.

Govt requests ADB to double loan to $800m

The finance minister gave an overview of recent economic developments that have taken place in Pakistan and the reform process which the government has rigorously followed to revamp the economy.

Published in The Express Tribune, October 26th, 2016.

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