Pakistan, ADB reiterate to expand economic portfolio


Islamabad March 29 (Online): Federal Minister for Economic Affairs Makhdum Khusro Bakhtyar held a virtual meeting with Central and West Asia Department of the Asian Development Bank new Director General Yevgeniy Zhukov on Monday.
The Secretary Economic Affairs Division and Xiaohong Yang, Country Director, ADB also joined the meeting.
Minister Makhdum Khusro appreciated ADB’s role as a trusted development partner of Pakistan especially in terms of the quality of the portfolio and support keeping in view the emerging needs of the country that includes ADB’s timely support to fight the COVID-19 pandemic.
He highlighted that despite challenges posed by COVID19 and worldwide contraction, the key economic indicators are showing encouraging results owing to the Government’s strong commitment for the structural reforms.
The DG acknowledged Government of Pakistan’s commitment to reform process and economic recovery. Khusro reiterated ADB’s commitment work closely with the Government of Pakistan to develop more meaningful projects aligned with the country’s needs and regulatory frameworks.
Both sides discussed and agreed to expand cooperation in the areas of Trade and Competitiveness, Social Protection (Ehsaas Program), Public Private Partnership, operationalization of the EXIM Bank, and Domestic Resource Mobilization.
The DG and the Minister agreed to continue discussing ways to deepen ADB and Pakistan’s development partnership and ensure effectiveness of the ongoing portfolio.