Minister: (Dar meets ADB�s Executive Director)

July 6, 2015 Off By Web Desk

ISLAMABAD: Finance Minister Ishaq Dar met the Executive Director of Asian Development Bank (ADB) Sami Saeed here on Tuesday and shared with him details of his recent visit to Beijing for signing Articles of Agreement of the Asian Infrastructure Investment Bank (AIIB).

The Minister also exchanged views with Sami Saeed on ADB�s development programmes in Pakistan. Sami Saeed said that AIIB had an important role to play for infrastructure development in Asian countries, specifically Pakistan where the government was focused on the energy, infrastructure and communication projects, says a press release.

He said that the establishment of AIIB would help ADB in becoming more competitive and come up with better investment plans for its development partners.

He added that Pakistan government�s positive measures for economic reforms had earned confidence of foreign investors who were eager to invest in mega projects in the country.

Sami Saeed also referred to Finance Minister�s meetings in Baku where he had presented Pakistan�s case for financing requirements in an emphatic manner and said that ADB was considering to enhance funding for Pakistan.

He informed the minister that ADB had approved on 30th June the amount of $225 million for the flood affectees out of which 65% will be for retroactive financing. Another $400 million were ready to be disbursed to Pakistan after the Board approval under the Energy Sector Reforms Programme.

He informed the minister that ADB was planning to contribute towards �Disaster Management Fund� for Pakistan along with other donors, enhancing the country�s capacity to guard against natural calamities.

The minister appreciated the support of ADB for Pakistan saying that ADB has been a great development partner for Pakistan. He said the Bank has always extended great support to Pakistan and we hope that it would continue to support Pakistan in future too.