President ADB due on Monday

September 12, 2014 Off By Web Desk

Islamabad: Country Director Asian Development Bank (ADB) Mr. Werner Leipach called on the Federal Minister for Finance Senator Mohammad Ishaq Dar on Saturday to discuss the details of the upcoming visit of the President Asian Development Bank Mr. Takehiko Nakao .

In the meeting, Mr. Leipach extended condolences on behalf of ADB President on the loss of life and colossal damage caused by the recent floods in Pakistan said, “ We have deep felt sympathies for the people of Pakistan and, in order to make our relationship more meaningful, we would like to help the people of Pakistan because we have the experience and expertise in dealing with natural calamities like the typhoon Ulanda in Philippines and can gladly share our experience with Pakistan in the reconstruction work”.

Finance Minister appreciated the concern of the ADB President and asked Mr. Leipach to convey his thanks to the ADB President.

Finance Minister welcomed the planned visit of President Nakao at his invitation to Pakistan and hoped that the visit would help in ADB better understanding Pakistan’s development priorities as well as critical issues facing the country.

He thanked Mr. Leipach for co-ordinating the visit of Mr.Nakao and stated that “It speaks volumes about the nature of our relationship which is intact and is development oriented. We want the upcoming visit to be fruitful through discussion on projects of national importance”.

Finance Minister also expressed pleasure at ADB’s interest in Islamic mode of financing and said that “ We shall issue Sukuk soon and hope that it will be as much oversubscribed as Eurobond”.

The President of the Asian Development Bank is coming to Pakistan on Monday for a three day visit. He will kick off his visit by meeting the Finance Minister and will also call on the President and the Prime Minister.

The Government’s economic team will discuss with him the overall macro-economic situation in the country and ADB’s assistance in solving the critical issues facing the economy.

The meeting was attended by senior officials of the Ministry of Finance as well as Economic Affairs Division.

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