ADB to provide Rs500m in aid for flood relief measures

The Asian Development Bank (ADB) has agreed to give Rs5 million dollars in aid to Pakistan.

An agreement to this effect was inked between Economic Affairs Secretary Dr Kazim Niaz and Asian Development Bank Country Director Yong Ye.

The aid amount will be spent on the emergency relief plan for victims of the torrential rains and flood that wreaked havoc in the country last year.

ADB delegation meets PM

On the other hand, a delegation of executive directors of the Asian Development Bank met with Prime Minister Shehbaz Sharif in Islamabad.

The delegation included ADB’s executive directors of China, Japan and South Korea.

The PM apprised the delegation that the ninth review of the IMF loan program is proceeding well.

He said Pakistan is determined to complete the reforms agreed in the program.

Earlier, Prime Minister Sharif welcomed the delegation, and thanked them for being a reliable partner to Pakistan.

He also praised the Bank’s flood relief efforts and aid last year.

The PM hoped the ADB will continue its strong partnership with Pakistan.

A couple of days ago, an ADB delegation of executive directors had called on Finance Minister Dar and exchanged views on reforms introduced by Islamabad, and policy decisions in important economic sectors for achieving sustainable economic development.