Islamabad, June 13, 2022 (PPI-OT):Asian Development Bank’s Director General for Central and West Asia Department (CWRD), Mr. Eugene Zhukov called on Minister for Economic Affairs Sardar Ayaz Sadiq and apprised the Minister about ADB’s support to the Government of Pakistan amounting to US$ 2.5 Billion in FY 2022-23.

These include a Countercyclical Finance Facility of US$ 1.5 Billion to Pakistan for undertaking fiscal stimulus for growth in the form of countercyclical development expenditure, US$ 400 Million in Energy Reforms and Financial Sustainability Program, US$ 100 Million under Women Inclusive Finance Sectoral Development Program, US$ 250 Million under PPP support program and another US$ 250 Million Domestic Resource Mobilization Program.

Minister for Economic Affairs warmly welcomed the ADB’s Director General and appreciated ADB’s long standing and trusted partnership and generous and timely support of over US $2.5 billion (including budgetary support of US$ 600 million) in FY 2021-22. He urged the ADB Director General to also extend support in conducting a feasibility study on shifting Government offices, schools, colleges and hospitals in Islamabad to solar power.

The Honorable Minister also highlighted the need of ADB’s support to strengthen the private sector which is the engine of economic stability of any country. Director General invited the Minister for 55th Annual meeting of Board of Governors of Asian Development Bank scheduled to be held from 26-30 September to be held in Manila, Philippines which was graciously accepted by the Minister.

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