Business News

ADB considering to enhance funding for Pakistan

Latest Update: July 7, 2015 | 172 Views
ADB

ISLAMABAD: Asian Development Bank (ADB) says it is considering to enhance funding for Pakistan.

Assurance to this effect was given by the Executive Director of the bank, Sami Saeed during his meeting with Finance Minister Muhammad Ishaq Dar on Tuesday.

He said that Pakistan government’s positive measures for economic reforms have earned confidence of foreign investors who are eager to invest in mega projects in the country.

Sami Saeed said the ADB has approved the amount of 225 million dollars for the flood affectees.

He said the bank is planning to contribute towards “Disaster Management Fund” for Pakistan along with other donors, enhancing the country’s capacity to guard against natural calamities.

He said another 400 million dollars are ready to be disbursed to Pakistan under the Energy Sector Reforms Programme after the Board’s approval.

Speaking on the occasion, Ishaq Dar appreciated the ADB support for Pakistan and said that the bank has been a great development partner for Pakistan.

He said the bank has always extended support to Pakistan and we hope that it would continue this support in future as well.