Islamabad: The Asian Development Bank (ADB) Country Director for Pakistan Yong Ye on Thursday (September 30) announced a 3-year financing initiative in Pakistan, news sources reported.
Under the project, ADB will provide USD 2 billion for each of the 3 years to Pakistan for various sectors’ development. Mr Ye said that the bank will also establish a single window to support various sectors of the economy. This plan was revealed by Country Director Ye during his meeting with Finance Minister Shaukat Tarin. The minister stated that the government is taking measures to secure long-term economic growth, emphasising efficiency, productivity, and meritocracy. He also informed Ye about the PKR 3.5 billion microfinance initiatives for youth under the Kamyab Pakistan Programme (KPP).
Minister Tarin also stated that the administration has implemented changes in 14 government sectors as recommended by the Economic Advisory Committee (EAC). He stated that reforms in the power sector and effective collection of dues have strengthened the power industry and are likely to deliver more advantages to the entire economy. Mr Ye also informed the finance minister that ADB has approved USD 500 million for the vaccine programme of which USD 350 million have been already provided.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
