ISLAMABAD  - Pakistan and Asian Development Bank (ADB) have reaffirmed their commitment to strengthening the partnership.

Country Director of the Asian Develop­ment Bank (ADB), Young Ye called on Min­ister for Finance & Revenue Muhammad Aurangzeb at Finance Division yesterday to discuss ongoing collaborations and future initiatives aimed at fostering economic de­velopment in Pakistan. ADB Country Direc­tor, Young Ye congratulated Minister for Fi­nance and Revenue on staff level agreement with the IMF and stated that the market has positively responded to the development.

During the meeting, Minister Aurang­zeb expressed appreciation for the sup­port provided by ADB over the years. He particularly highlighted ADB’s as­sistance through Policy Based Lending (PBL) to mitigate the impacts of the pan­demic and floods. Furthermore, the sta­tus of ongoing policy-based programs, including the Public Private Partnership (PPP) Program and the Climate and Di­saster Resilience Enhancement Program (CDREP) were also discussed.

Acknowledging ADB’s pivotal role in pro­moting climate-conscious programs across Asia and the Pacific, the minister empha­sized the alignment of ADB’s climate op­erations with Pakistan’s own climate goals and commitments. The minister outlined government’s priority areas for achieving macro-economic stability and sustainabili­ty, including measures to enhance revenue, SOEs reforms, privatization, and public-private partnerships. Concluding the meet­ing, both parties reaffirmed their commit­ment to strengthening the partnership between Pakistan and ADB, with a shared goal of promoting sustainable economic growth and development in the country.