Asian Development Bank (ADB) President Masato Kanda has expressed condolences for those affected by the recent severe monsoon rains and floods in Pakistan, announcing a rapid response grant of $3 million from the Asia Pacific Disaster Response Fund to support emergency relief efforts. This funding, to be provided at the request of the Government of Pakistan, underscores ADB’s commitment to delivering swift humanitarian assistance while supporting longer-term recovery and resilience.
During his three-day visit to Pakistan, Mr. Kanda met with Prime Minister Shehbaz Sharif to discuss transformative investments, enhanced private sector engagement, and Pakistan’s strategic role as a supplier of critical minerals for the global clean energy transition. The discussions also highlighted ADB’s ongoing capital investments in transport, energy, urban infrastructure, and human capital development through education and health programs, alongside acknowledgment of Pakistan’s progress in domestic reforms and improved sovereign credit ratings.
Mr. Kanda welcomed ADB’s recent approval of a $410 million financing package for the Reko Diq Mining Project, marking ADB’s return to mining sector financing after four decades. This project will help position Pakistan as a strategic supplier of copper and gold for global clean energy markets. Beyond high-level meetings, Mr. Kanda engaged directly with communities and businesses, including visits to the Benazir Income Support Program (BISP) One-Window Center in Islamabad and Pakistan’s first sustainable aviation fuel facility in Lahore, emphasizing private sector growth and sustainable development.
He also held discussions with key government officials, including the Minister for Economic Affairs, the Finance Minister, and the Punjab Chief Minister, focusing on Pakistan’s development priorities, reform agenda, and transformative projects that can foster inclusive and resilient growth.
Since Pakistan became a founding member in 1966, ADB has committed over $43 billion to support the country’s development, including infrastructure, energy, transport, and social services. Currently, ADB maintains a sovereign portfolio of 44 operations valued at approximately $9 billion, reinforcing its role as a leading multilateral development bank driving inclusive, resilient, and sustainable growth across Asia and the Pacific.
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