Ulaanbaatar: Pakistan and the Asian Development Bank have entered into a collaborative agreement for a joint export accelerator programme aimed at enhancing Pakistan’s export capabilities. This development emerged from a meeting between Pakistan’s Minister for Planning, Development and Special Initiatives, Ahsan Iqbal, and the Asian Development Bank’s President, Masato Kanda, on the sidelines of the CAREC Ministerial Conference.

According to Radio Pakistan, Minister Ahsan Iqbal called upon the Asian Development Bank to create a dedicated financing window for climate adaptation and resilience, targeting highly vulnerable countries beyond the current allocation framework. He emphasized that global financial institutions need to adapt beyond traditional frameworks to address emerging challenges, particularly those related to climate vulnerability.

Highlighting infrastructure priorities, Ahsan Iqbal underscored the strategic significance of the ML-1 railway project, relaying Prime Minister Shehbaz Sharif’s request for expedited procedural processes to initiate the project. In response, ADB President Masato Kanda reaffirmed the bank’s commitment to the ML-1 project, promising comprehensive support to advance it as a flagship initiative.

Furthermore, Iqbal emphasized the importance of bolstering regional connectivity through integrated rail and road networks. He advocated for enhanced links among Turkmenistan, Afghanistan, and Pakistan, which would provide greater access to the Gwadar Port for CAREC countries.