ADB to Provide Pakistan $2.5 Billion in FY22-23

Asian Development Bank (ADB) has indicated that it will provide additional support of $2.5 billion to Pakistan for the next fiscal year (FY) in a recent meeting between the Federal Minister of State for Finance and Revenue, Dr. Aisha Ghous Pasha, and Country Director ADB, Mr. Yong Ye. Welcoming the team from ADB, the Minister of State for Finance and Revenue acknowledged that ADB has always assisted in the pursuance of reform and development agenda in the country. She acknowledged the all-weather and trusted partnership of ADB with Pakistan, especially in the areas of energy, education, and fiscal & debt management. Further, she shared that currently, Pakistan is facing various fiscal and monetary challenges, but the present government is keenly working on various structural reform measures to bring back the economy on an inclusive and sustainable growth path. The Country Director ADB briefed the Minister of State on ADB’s portfolio and the country’s strategy. It was shared that ADB is devoted to providing the support for reform agenda of State-Owned Entities (SOEs) governance and regulations, women’s inclusive finance sector development, and Public Private Partnership (PPP) frameworks. Moreover, ADB indicated the additional support of $2.5 billion for the next FY, from which $1.5-2 billion can be available in December of the current calendar. While concluding, Dr. Aisha Ghous Pasha thanked Mr. Yong Ye and his team for their dedication and assured them of full support and speedy implementation of the ongoing programs. Senior officers of the Ministry of Finance also participated in the meeting.