Asian Development Bank (ADB) President Masato Kanda reaffirmed the Bank’s long-standing commitment to Pakistan during high-level meetings with Prime Minister Shehbaz Sharif and senior cabinet members on August 27, 2025.
Prime Minister Shehbaz praised ADB as a trusted partner in Pakistan’s economic journey, highlighting its crucial role in supporting reforms and financing development projects. He welcomed ADB’s interest in railways, public transport, and mineral development, calling these collaborations transformative for the economy.
In his remarks, Shehbaz briefed the delegation on government reforms aimed at broadening tax revenues, restructuring the energy sector, strengthening fiscal stability, reducing subsidies, expanding social security, and combating climate change.
Minister for Economic Affairs Ahad Khan Cheema also noted Pakistan’s macroeconomic stabilisation, recent credit rating upgrades, and requested enhanced annual lending headroom. He stressed early financing for the ML-1 railway project, underlining its significance for trade and regional connectivity.
President Kanda extended condolences for lives lost in recent monsoon floods, commended Pakistan’s reform progress, and reaffirmed ADB’s partnership in infrastructure, climate finance, and institutional reforms. He also appreciated record disbursements of USD 2.2 billion in FY 2024–25, confirming continued cooperation.
Acknowledging Pakistan as a founding member and one of ADB’s top five borrowers, Kanda assured that lending limits would be reconsidered with further rating improvements. He also highlighted ADB’s readiness to support ML-1, prioritising early work on the Rohri–Karachi section, and underlined the importance of ensuring climate finance additionality.
The visit concluded with the signing of an agreement between ADB and the Capital Development Authority (CDA) for the construction of ADB’s new office building in Islamabad, symbolising the Bank’s enduring partnership with Pakistan.
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