Signing of grant agreement on emergency Flood assistance project (additional financing)

Islamabad, February 28, 2023 (PPI-OT):Dr. Kazim Niaz, Secretary Ministry of Economic Affairs and Mr. Yong Ye, Country Director Asian Development Bank, signed a grant agreement at the Ministry of Economic Affairs today. The $5M grant is from Japan Fund for Prosperous and Resilient Asia and the Pacific administered by ADB to the Islamic Republic of Pakistan for the Emergency Flood Assistance Project – Additional Financing. The additional financing will be used to expand the scope of the original project, particularly to support (i) urgent provision of climate-resilient seeds for staple crop cultivation and (ii) women-led livelihoods to meet basic household needs.

The ceremony was witnessed by Mr. Takahiru Yasui, ADB’s Executive Director for Japan. Japan is one of the largest shareholders of ADB and has also been extending generous bi-lateral support for key economic development projects and natural disaster challenges faced by Pakistan. Secretary Economic Affairs expressed gratitude for the Government of Japan’s additional financing and hoped for continued strong development cooperation in the future.

The Grant Project Agreement between the Government of Balochistan and ADB as well as Outputs Agreement with Food and Agriculture Organization of the United Nations were also signed in the same ceremony. Executives Directors of the ADB for China, Pakistan, and South Korea also witnessed the signing ceremony who are presently on official visit to Pakistan.

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