Islamabad/Washington (TDI): Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has appreciated ADB’s support for a Policy-Based Loan of USD 500 million for the Climate and Disaster Resilience Enhancement Program, scheduled for consideration by ADB’s Board on October 29.
The minister expressed the appreciation in a meeting with Masatsugu Asakawa, President of the Asian Development Bank (ADB), in Washington.
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He lauded ADB’s partnership with Pakistan to support its development agenda and welcomed the launch of the new ADB office in Islamabad.
The Minister expressed hope for the early finalization of ADB’s Country Partnership Framework.
He also commended ADB for completing the Capital Adequacy Framework and for exempting Pakistan from surcharges beyond exposure limits for the next three years, a statement issued by the ministry said.
Additionally Both sides agreed on the importance of domestic revenue mobilization, regional cooperation, and the timely completion of ADB’s new office in Islamabad, it added.
Separately, the finance minister met with Deemah Al Yahya, Secretary General of the Digital Cooperation Organization (DCO).
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In the meeting, he highlighted the enormous potential that exists in the ICT sector in Pakistan and shared that the government is investing in an inclusive digital ecosystem to improve governance, citizens’ quality of life, and economic well-being.
The minister emphasized collaboration in the areas of digital infrastructure, digital economy, digital foreign direct investment (FDI), digital skills, and digital governance.
