Asian Development Bank | Pakistan

Pakistan and the Asian Development Bank (ADB) on Tuesday signed two major climate resilience initiatives—one focused on Sindh and the other on Punjab—according to a statement issued by the Economic Affairs Division. The projects include the $180.5 million Sindh Coastal Resilience Sector Project (SCRP) and the $124 million Punjab Climate-Resilient and Low-Carbon Agriculture Mechanisation Project. Economic Secretary Muhammad Humair Karim “expressed his sincere appreciation for ADB’s role as a trusted development partner and its continued support to Pakistan in advancing climate resilience, sustainable agriculture, and inclusive growth”, the statement read. Karim highlighted that the SCRP will promote integrated water resource and flood risk management and restore nature-based coastal defences. It is also expected to strengthen the institutional and community capacity for strategic action planning. “The project, financed through $140.5m from [the] ADB (including [a] $140m loan and [a] $500,000 technical assistan...

• Aurangzeb urges innovative instruments, sectoral reforms for long-term resilience • ADB president says ready to assist in launch of inaugural Panda Bond, welcomes market diversification efforts ISLAMABAD: Paki­stan on Wednesday sought deeper collaboration and fresh support for policy-based lending from the Asian Development Bank for vast sectors of the economy, from climate to infrastructure to resource mobilisation, thro­ugh global capital instruments, like green bonds and debt-for-nature swaps, under the new 10-year partnership. The wish-list for future direct financial support and collaborations for market-based financing instruments was shared by Finance Minister Muhammad Aurangzeb with ADB President Masato Kanda — a former finance minister of Japan — during his maiden visit to Pakistan after assuming the charge of his office in February this year. Senator Aurangzeb discussed “Pakistan’s priorities for deeper collaboration with ADB across key areas, including energy transition, climate resilience, trans...