Islamabad: According to press reports, the Asian Development Bank’s (ADB) Country Director for Pakistan, Yong Ye, unveiled a three-year funding programme in Pakistan on Thursday (September 30).
The ADB would provide USD 2 billion to Pakistan for each of the three years of the programme to help the country grow various sectors. Mr Ye also stated that the bank will create a single point of contact to assist all sectors of the economy.
During his discussion with Finance Minister Shaukat Tarin, Country Director Ye shared this idea. According to the minister, the government is taking steps to ensure long-term economic growth by focusing on efficiency, productivity, and meritocracy. He also educated Mr. Ye about the Kamyab Pakistan Programme’s PKR 3.5 billion microfinance programmes for youth.
Minister Tarin also highlighted that the administration has adopted adjustments recommended by the Economic Advisory Committee in 14 government sectors (EAC). He noted that power sector reforms and successful dues collection have strengthened the power industry, which will likely result in further benefits for the broader economy.
Mr Ye also informed the finance minister that the Asian Development Bank (ADB) has approved USD 500 million for the immunisation programme, with USD 350 million already allocated.