Finance Minister Praises Asian Development Bank’s Support and New Initiatives in Pakistan

Islamabad: Pakistan’s Finance Minister Muhammad Aurangzeb recently commended the Asian Development Bank (ADB) for its ongoing partnership and support towards the nation’s development goals. The Minister highlighted this during discussions with ADB President Masatsugu Asakawa, where they also marked the inauguration of a new ADB office in Islamabad.

According to Ministry of Information and Broadcasting, Aurangzeb expressed optimism about the speedy finalization of ADB’s Country Partnership Framework. He praised the Bank for completing the Capital Adequacy Framework and for exempting Pakistan from surcharges beyond exposure limits for the next three years.

Further appreciation was given for ADB’s financial support through a Policy-Based Loan of USD 500 million aimed at enhancing climate and disaster resilience, which is up for ADB Board review later in the month. The meeting underscored mutual commitments to boost domestic revenue mobilization, enhance regional cooperation, and ensure the timely completion of ADB’s new office projects in the capital.

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