Pakistan seeks Asian Development Bank’s support for reforms
Pakistan on Wednesday sought deeper collaboration and fresh support for policy-based lending from the Asian Development Bank for vast sectors of the economy, from climate to infrastructure to resource mobilisation, through global capital instruments, like green bonds and debt-for-nature swaps, under the new 10-year partnership. The wish-list for future direct financial support and collaborations for market-based financing instruments was shared by Finance Minister Muhammad Aurangzeb with ADB President Masato Kanda — a former finance minister of Japan — during his maiden visit to Pakistan after assuming the charge of his office in February this year. Senator Aurangzeb discussed “Pakistan’s priorities for deeper collaboration with ADB across key areas, including energy transition, climate resilience, transport and logistics, human capital development, and resource mobilisation”, an official statement said.