ADB Board of Governors’ four-day annual moot starts today
The Asian Development Bank (ADB), one of the top international financial lenders, is all set to hold the Board of Governors’ 56th annual meeting at South Korean city Incheon, bordering the capital of Seoul, from May 2 to 5. The theme for this year’s conference is “Rebounding Asia: Recover Reconnect, and Reform,” wherein relevant issues…
Adil Aziz
ADB closely working with Pakistan on economic challenges
A delegation of Executive Directors of the Asian Development Bank (ADB) of Japan, China and South Korea called on Prime Minister Shehbaz Sharif here Tuesday and renewed ADB’s resolve to continue working closely with Pakistan in addressing its economic challenges. The prime minister lauded ADB’s longstanding association with Pakistan and for being a reliable partner…
Pakistan’s energy sector needs up to $155 Billion investment until 2030: Report
Pakistan’s energy sector needs investments ranging from US$62 billion to US$155 billion until the 2030, according to a report titled “CAREC Energy Outlook 2030” recently released by the Asian Development Bank (ADB). “The energy investment needs until 2030 vary significantly across the three scenarios, with estimates ranging from $62 billion to $155 billion. The most…
Pak-ADB sign five financing agreements worth $775 Million
The Government of Pakistan and Asian Development Bank (ADB) signed five Financing Agreements of US$ 775 million to support recovery and reconstruction efforts in the flood-affected areas of Balochistan, Khyber Pakhtunkhwa and Sindh. The government has also signed financing agreement with ADB as well as to train the workers in the Punjab province. These projects…
ADB approves flood assistance package for Pakistan
A $554 million financing package, including new and reallocated funds, has been approved to support recovery and reconstruction efforts in Pakistan following this year’s devastating floods, and to strengthen the country’s disaster and climate resilience. The financing, which includes a $475 million loan and a $3 million technical assistance grant from the Asian Development Bank…
World’s football manufacturing capital in Pakistan gets a green makeover
The Asian Development Bank (ADB) is helping Pakistan’s provincial government of Punjab to build sustainable and livable mid-level cities by upgrading basic infrastructure and services. This includes Sialkot, a thriving business hub known for manufacturing footballs and high-quality surgical instruments. It said the ADB’s support for urban development is helping boost Sialkot’s competitiveness, create jobs,…
ADB’s $1.5 Billion BRACE Program to go a long way to help flood victims, building resilience
Prime Minister Shehbaz Sharif said that Asian Development Bank’s “Building Resilience with Active Countercyclical Expenditure” (BRACE) Program would go a long way to improve Pakistan’s financial position and help flood victims, besides building the resilience and infrastructure. The prime minister, addressing the signing ceremony of $1.5 billion program here, thanked the ADB for extending timely…
ADB approves $1.5 Billion for Pakistan’s social protection, food security
The Asian Development Bank (ADB) on Friday approved $1.5 billion in financing to help the Government of Pakistan provide social protection, promote food security, and support employment for its people amid devastating floods and global supply chain disruptions. The loan that is expected to release by next week, is provided under ADB’s Building Resilience with…
ADB to provide up to US$ 2.5 Billion under flood relief support to Pakistan this month: Country Director
The Asian Development Band (ADB) will provide flood relief support to Pakistan to the tune of US$ 2.3 to 2.5 billion including US$ 1.5 billion for the BRACE program which will be placed before the ADB Board for approval during this month, Country Director ADB for Pakistan Yong Ye told Finance Minister Senator Mohammad Ishaq…
ADB to mobilize over $2 Billion to support Pakistan’s post-flood relief measures
The Asian Development Bank (ADB) will approve funding of over US$2 billion to support Pakistan’s post-flood relief and resilience activities by end of current year, ADB Director General for Central and West Asia Eugene Zhukov told a virtual press conference from Manila on Thursday. Expressing sympathies and grief over the huge devastation caused by the…