Pakistan seeks ADB help in setting up disaster fund
PHOTO: REUTERS
There is a need to enhance the capacity of National Disaster and Risk Management Fund (NDRMF) to effectively tackle calamities occurring throughout the country, emphasised Federal Minister for Planning, Development and Special Initiatives Asad Umar.
In a meeting with newly appointed Asian Development Bank (ADB) Country Director for Pakistan Yong Ye, the minister stressed the need for collaboration between the ADB and Pakistan for establishing a natural disaster fund for disaster risk reduction, mitigation and rehabilitation.
ADB to provide $2b under 3-year plan
He sought cooperation of the ADB in setting up a risk management unit for public-private partnership ventures.
Welcoming the new ADB country director, Umar acknowledged the significant contribution of the bank to the response to the Covid-19 pandemic through financing facilities, knowledge sharing and partnerships.
He appreciated the pivotal role being played by the ADB in strengthening governance and service delivery in Pakistan through institutional reforms, which were undertaken with support of the development partner.
Umar discussed the role of private sector financing in disaster risk management and building resilience to climate change.
The two sides also deliberated upon new possibilities of economic cooperation in the post-Covid situation.
Published in The Express Tribune, October 6th, 2021.
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