Islamabad: The Asian Development Bank (ADB) has pledged to provide two billion dollars in annual assistance to Pakistan for the next three years, aiming to bolster the country’s infrastructure development and enhance its climate resilience. This financial commitment comes at a crucial time as Pakistan continues to navigate significant economic and environmental challenges.

According to Ministry of Information and Broadcasting, the announcement was made by ADB President Masatsugu Asakawa during a meeting with Pakistan’s President Asif Ali Zardari in Islamabad. Asakawa reaffirmed the bank’s dedication to supporting Pakistan’s efforts in building robust infrastructure and implementing climate-resilient initiatives, acknowledging the recent signs of economic recovery and stabilization in the country.

President Zardari emphasized the need for increased support from the ADB, particularly in addressing the adverse impacts of climate change. He highlighted the severe climate shifts and the devastating floods of 2022, which had a profound impact on Pakistan’s economy. Zardari also briefed Asakawa on the ongoing economic and climate-related challenges facing the nation, expressing appreciation for ADB’s continued support towards Pakistan’s socio-economic development.