Pakistan and ADB again emphasized to diversify economic portfolio. Federal Minister for Economic Affairs Makhdum Khusro Bakhtyar held a virtual meeting with Mr. Yevgeniy Zhukov, new Director General, the Central and West Asia Department of the Asian Development Bank. The Secretary Economic Affairs Division and Ms. Xiaohong Yang, Country Director, ADB also joined the meeting.
The Minister appreciated ADB’s role as a trusted development partner of Pakistan especially in terms of the quality of the portfolio and support keeping in view the emerging needs of the country that includes ADB’s timely support to fight the COVID-19 pandemic.
The Minister highlighted that despite challenges posed by COVID19 and worldwide contraction, the key economic indicators are showing encouraging results owing to the Government’s strong commitment for the structural reforms.
The DG acknowledged Government of Pakistan’s commitment to reform process and economic recovery. He reinstated ADB’s commitment work closely with the Government of Pakistan to develop more meaningful projects aligned with the country’s needs and regulatory frameworks.
Both sides discussed and agreed to expand cooperation in the areas of Trade and Competitiveness, Social Protection (Ehsaas Program), Public Private Partnership, operationalization of the EXIM Bank, and Domestic Resource Mobilization. The DG and the Minister agreed to continue discussing ways to deepen ADB and Pakistan’s development partnership and ensure effectiveness of the ongoing portfolio.