Asian Development Bank plans to provide 2.1 billion dollars out of 3.4 billion dollar funds to support Pakistan’s reform and development programs during the current fiscal year. This was stated by ADB Country Director Ms. Xiaohong Yang while addressing a function titled ‘Consultation Pakistan: Country Partnership Strategy 2020-2024’ in Islamabad today.
She said ADB stands ready to assist Pakistan achieve higher, sustained and inclusive growth. Ms. Xiaohong Yang said we are open for new ideas and adopt innovative approaches to fast track, scale-up and deepen our assistance in priority sectors.
Speaking on the occasion, Secretary Economic Affairs Division Noor Ahmed said new ADB Pakistan partnership strategy should focus on coordinated and integrated efforts to address key development challenges and spur economic growth.
Earlier, Asian Development Bank (ADB) has approved a loan of $235 million to help in developing Karachi Bus Rapid Transit Red Line project. According to a press release by the ADB, the Karachi BRT Red Line Project will deliver the 26.6 kilometres BRT Line Red Line and its associated facilities. This will benefit as many as 1.5 million people, about 10% of Karachi’s population, the statement added.
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