In an update to its Asian Development Outlook, ADB said that the inflation rate has dropped in the country to a minimum level in two years, which is expected to go further down. The growth rate of Pakistan is likely to remain at 2.8 percent in the ongoing year, ADB predicted. The growth rate was […]
President ADB Masatsugu Asakawa stated this during a meeting with President Asif Ali Zardari in Islamabad. The ADB president reaffirmed the bank’s commitment to support infrastructure development and climate-resilient initiatives in Pakistan. Masatsugu Asakawa also commended the recent signs of economic recovery and stabilization in Pakistan. On his part, President Asif Ali Zardari called for […]
The Khyber Pakhtunkhwa Rural Roads Development Project will upgrade around 900 kilometers of rural roads in the province that are susceptible to floods and are in poor condition, according to an ADB press release received here on Friday. These cover key routes that link remote communities to education, health care, and markets, it said adding […]
According to the ADB blog report on remittances in Pakistan, remittances saw a significant increase of 19.8%, reaching a record high of $31.1 billion, during the COVID-19 pandemic. The report stated that remittances play a vital role in reducing poverty and increasing foreign exchange reserves. The ADB recommended providing more incentives to overseas Pakistanis to […]
According to sources, the Ministry of Planning and the Ministry of Economic Affairs have completed their work for the current financial year, and the amount will be spent on flood recovery and rehabilitation and development projects. This funding is part of the international community’s efforts to support Pakistan in the aftermath of the catastrophic floods. […]
CM Maryam gave formal assent to make new corridors in the province in a special meeting. Chairing a meeting in Lahore today, Maryam Nawaz said that these road corridors connecting major cities will facilitate public transportation and bring economic development to these areas. The meeting was told that the project will be completed in December […]
Headed by Deputy Prime Minister and Foreign Minister Ishaq Dar, the Executive Committee of the National Economic Council (Ecnec) approved the completion of the $6.7 billion project in two phases. The committee sanctioned the first phase from Karachi to Multan for $3.32 billion, although the Chinese have so far agreed to fund $1.1 billion worth […]
Secretary Ministry of Economic Affairs Dr Kazim Niaz and Country Director ADB Yong Ye signed the loan program. Kazim Niaz thanked the ADB for its continued support of Pakistan’s critical development needs and rehabilitation efforts in a post-flood context. According to the ADB official ‘X’ handle, the agreement aimed at assisting Pakistan drive sustainable investment […]
ADB’s Promoting Sustainable Public–Private Partnerships Program supports the implementation of government policies to create an enabling environment for fiscally affordable PPPs and promote inclusive economic growth, according to a press release received here. This program is part of our comprehensive and integrated package of public sector management support that balances the country’s fiscal consolidation and […]
The commitment was made during ADB’s 57th annual meeting held in Tbilisi, Georgia, said a press release on Friday. The ADF is ADB’s largest source of grants for operations in its poorest and most vulnerable developing member countries and is replenished every four years. ADF 14 marks the 13th replenishment since the fund’s establishment will […]
