China’s Xiaohong nominated ADB country director to Pakistan
Move expected to improve coordination in wake of regional strategic projects
A worker walks past inside the Asian Development Bank (ADB) headquarters in Manila June 17, 2009. REUTERS/Cheryl Ravelo
ISLAMABAD:
The Asian Development Bank (ADB) has nominated China’s Xiaohong Yang as the new country director to Pakistan, a move expected to improve coordination between the two countries.
The development is also projected to assist in the execution of regional strategic projects in Pakistan.
ADB to provide Rs100m loan to acquire land for new ring road
According to the Ministry of Finance, the ADB is currently waiting for clearance from Pakistan’s Foreign Office to finalise Xiaohong’s appointment. She will replace Werner Liepach who left Islamabad last week after serving for five years.
The nomination comes at a time when there is a need for greater collaboration between the Manila-based agency and the newly-formed Asian Infrastructure Investment Bank (AIIB).
Due to its growing investment and budget financing needs, Pakistan is one of the leading borrowers in the region, becoming an important country for the multilateral lender. Since 1968, the ADB has given 314 loans worth $28 billion to Pakistan.
Xiaohong has a 30-year experience in the field of development and has also served in the World Bank. Her expertise includes policy formulation and portfolio management. A graduate of Peking University, she is known for building strong relationships with client governments, development partners and private sectors.
In 2013, the ADB appointed Xiaohong as Transport and Communications Division Director where she oversaw 52 mega and medium-sized projects worth $7.5 billion. She is also the chair of the transport sector group, focusing on development of infrastructure projects.
While she cleared $1 billion for road sector projects in Pakistan, the amount of disbursements remained only at $143.2 million due to implantation issues and bureaucratic attitudes of both the government and the ADB.
Liepach’s tenure
Werner Liepach stayed in Pakistan longer than the standard term for a country director. The ADB lending to Pakistan during the last decade (2007-2016) has more than doubled from an annual average of about $569 million to about $1.2 billion. From 2014 to 2016, the ADB’s average annual lending stood at $1.5 billion.
During Liepach’s tenure, the ADB approved approximately $6 billion in new loans for Pakistan, including funds for budgetary support. The volume of the project portfolio increased from $3.5 billion per annum to $6.4 billion per annum in 2016.
ADB provides $15m technical assistance for road accident reporting
As of end of last year, the total active portfolio of the ADB increased to $6.7 billion, including $5.94 billion project lending.
Meanwhile, during the tenure, relations between the ADB and Pakistan significantly improved, largely due to the country’s growing dependence on foreign lenders. However, at times, Liepach was criticised for putting undue pressure on Pakistan to push ADB’s agenda.
The ADB forced Pakistan to take $400 million loan for the social safety net, which was disbursed among beneficiaries of the Benazir Income Support Programme. The Manila-based lending agency also overstepped its mandate and went beyond diplomatic norms to give $900 million loan for installation of smart electricity meters.
Published in The Express Tribune, April 6th, 2017.
The Asian Development Bank (ADB) has nominated China’s Xiaohong Yang as the new country director to Pakistan, a move expected to improve coordination between the two countries.
The development is also projected to assist in the execution of regional strategic projects in Pakistan.
ADB to provide Rs100m loan to acquire land for new ring road
According to the Ministry of Finance, the ADB is currently waiting for clearance from Pakistan’s Foreign Office to finalise Xiaohong’s appointment. She will replace Werner Liepach who left Islamabad last week after serving for five years.
The nomination comes at a time when there is a need for greater collaboration between the Manila-based agency and the newly-formed Asian Infrastructure Investment Bank (AIIB).
Due to its growing investment and budget financing needs, Pakistan is one of the leading borrowers in the region, becoming an important country for the multilateral lender. Since 1968, the ADB has given 314 loans worth $28 billion to Pakistan.
Xiaohong has a 30-year experience in the field of development and has also served in the World Bank. Her expertise includes policy formulation and portfolio management. A graduate of Peking University, she is known for building strong relationships with client governments, development partners and private sectors.
In 2013, the ADB appointed Xiaohong as Transport and Communications Division Director where she oversaw 52 mega and medium-sized projects worth $7.5 billion. She is also the chair of the transport sector group, focusing on development of infrastructure projects.
While she cleared $1 billion for road sector projects in Pakistan, the amount of disbursements remained only at $143.2 million due to implantation issues and bureaucratic attitudes of both the government and the ADB.
Liepach’s tenure
Werner Liepach stayed in Pakistan longer than the standard term for a country director. The ADB lending to Pakistan during the last decade (2007-2016) has more than doubled from an annual average of about $569 million to about $1.2 billion. From 2014 to 2016, the ADB’s average annual lending stood at $1.5 billion.
During Liepach’s tenure, the ADB approved approximately $6 billion in new loans for Pakistan, including funds for budgetary support. The volume of the project portfolio increased from $3.5 billion per annum to $6.4 billion per annum in 2016.
ADB provides $15m technical assistance for road accident reporting
As of end of last year, the total active portfolio of the ADB increased to $6.7 billion, including $5.94 billion project lending.
Meanwhile, during the tenure, relations between the ADB and Pakistan significantly improved, largely due to the country’s growing dependence on foreign lenders. However, at times, Liepach was criticised for putting undue pressure on Pakistan to push ADB’s agenda.
The ADB forced Pakistan to take $400 million loan for the social safety net, which was disbursed among beneficiaries of the Benazir Income Support Programme. The Manila-based lending agency also overstepped its mandate and went beyond diplomatic norms to give $900 million loan for installation of smart electricity meters.
Published in The Express Tribune, April 6th, 2017.