The Asian Development Bank (ADB) has praised Pakistan’s economic reforms and resilience, highlighting the country’s progress in stabilizing its economy and advancing structural reforms. ADB President Masato Kanda expressed the bank’s commitment to partnering with Pakistan on its reform agenda, offering continuous support for key areas including climate change adaptation, infrastructure development, and resource mobilization.
During a meeting held at the Finance Division, the ADB president reaffirmed the bank’s readiness to assist in the launch of Pakistan’s inaugural Panda Bond later this year, along with other innovative financing instruments. He commended Pakistan’s efforts towards market diversification and expressed ADB’s commitment to providing financial and technical expertise to ensure the success of these initiatives.
In addition to acknowledging the country’s economic progress, the ADB has revised Pakistan’s fiscal year 2025 growth forecast to 2.7%, driven by improvements in industry and services. Kanda emphasized that ADB would continue its partnership with Pakistan to foster sustained economic growth, disaster preparedness, and climate resilience.
Pakistan’s Finance Minister, Senator Muhammad Aurangzeb, thanked ADB for its continued support, particularly in areas such as financial inclusion, clean energy transition, and disaster risk financing. He highlighted the significant strides Pakistan has made in stabilizing its macroeconomic framework, noting the reduction in inflation, improvement in the current account, and recent sovereign credit rating upgrades. These developments have helped reduce borrowing costs, reinforcing Pakistan’s resilience in challenging times.
The meeting underscored Pakistan’s commitment to strengthening reforms in taxation, tariff rationalization, state-owned enterprise (SOE) restructuring, and regulatory modernization. The Finance Minister also highlighted priorities for deeper collaboration with the ADB in energy transition, transport infrastructure, human capital development, and capital market growth.
The Finance Minister expressed appreciation for ADB’s strategic support in the country’s development goals and reiterated Pakistan’s enthusiasm for further collaboration under the upcoming ADB Country Partnership Strategy for 2026–35, which aligns with Pakistan’s medium-term development priorities.
With the ADB’s continued backing, Pakistan looks set to accelerate its economic transformation, building on its resilience and solidifying partnerships for long-term growth and sustainability.
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