Pakistan likely to get $2.5 billion ADB funding for next fiscal year

ISLAMABAD – The Asian Development Bank (ADB) is likely to extend the additional support of $ 2.5 billion to Pakistan for next fiscal year 2022-23 amid worsening economic situation of the country.

It emerged during a meeting between Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha held a meeting with Country Director ADB, Mr. Yong Ye. Senior officers of Ministry of Finance participated in the meeting.

Welcoming the team from ADB, Minister of State for Finance and Revenue acknowledged that ADB has always assisted in 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 strategy.

It was shared that ADB is devoted for providing the support for reform agenda of SOEs governance and regulations, women inclusive finance sector development and 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 the ongoing calendar year.

While concluding, Minister of State for Finance and Revenue 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.

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