ISLAMABAD: The Asian Development Bank (ADB) on Saturday reiterated its commitment to supporting Pakistan's economic recovery from the coronavirus pandemic as the bank's vice president, Shixin Chen, concluded his five-day visit to the country.
Since its establishment in 1966, the ADB has committed over $36 billion in loans, grants, and other forms of financing to promote inclusive economic growth in Pakistan and improve the country's infrastructure, energy and food security, transport networks, and social services.
The visiting ADB official also met with Prime Minister Imran Khan, discussed the bank's ongoing and emerging areas of support in meetings with various cabinet ministers, and visited the National Power Control Center in Islamabad where he was briefed about the country's power load management system and its expansion plans under an ADB financing facility.
"The people of Pakistan have shown remarkable resilience in the face of COVID-19 and the country's rapidly building momentum towards economic recovery is testament to this," Chen said at the end of his visit to Pakistan.
He added: "As one of Pakistan's largest development partners, ADB has taken swift actions to support Pakistan's vaccination and social protection efforts, and external financing requirements. We will continue to work with the government, private sector, and other partners to further develop green, resilient, and quality infrastructure; enact reforms; and strengthen key sectors vital to the country's growth."
A statement issued by the bank maintained that ADB's assistance helped Pakistan improve macroeconomic management and resilience, and infrastructure and urban sector investments that supported rural connectivity and urban services.
"The bank's support for public–private partnerships and improved access to finance has boosted competitiveness and private sector development," it added. "Going forward, ADB will support an enabling environment for digital transformation through policy improvements and strengthening public institutions and relevant infrastructure."
