ISLAMABAD
Country Director of Asian Development Bank (ADB) Yong Ye has said that the bank will provide $ 600 million to Pakistan for Integrated Social Protection Development.
Yong Ye told this to Federal Minister for Economic Affairs Omar Ayub Khan during a meeting on Thursday.
Omar congratulated Yong Ye on assuming charge as country director in Pakistan. He appreciated the ADB management and board of directors for their continued technical and financial support to the government of Pakistan. The minister also acknowledged the ADB’s timely support for procurement of Covid-19 vaccine.
The minister reiterated that the government is committed to providing maximum vaccination coverage to the eligible population. He shared the government’s vision and development priorities with the ADB team.
He highlighted the importance of improved road network and digital connectivity which are fundamental for service delivery and economic growth through enhanced mobility of individuals, farm to market access, trade of goods & services, exchange of information and e-commerce.
The minister also emphasised on capacity building of project executing agencies and staff for efficient project implementation. He stressed on using digital tools and satellites for effective project monitoring across the country.
The country director informed that the bank has recently negotiated a new programme with the government of Pakistan for providing $600 million for Integrated Social Protection Development.
This programme will support the government’s efforts to implement high priorities from its Ehsaas Programme (social protection and poverty reduction) in a coordinated, cohesive and systematic manner.
He said that under this programme, institutional capacity for social protection and climate resilience will also be strengthened. Furthermore, access to primary & secondary education, health services and nutrition supplies will be enhanced for women (especially mothers), adolescents, and children of poor families. He also reiterated ADB’s commitment to continue its technical & financial support to Pakistan for priority areas.
Yong Ye briefed the minister on ADB’s portfolio in Pakistan. He highlighted that ADB has committed to providing $6.3 billion under Country Operation Business Plan (2021-2023) to Pakistan. At present, 32 projects worth $6.4 billion are under implementation in energy, road & transport, agriculture & irrigation, urban services, education, health and social protection.
Both sides also discussed mobilising additional financial resources for mass vaccination drives in the country.
Meanwhile, the minister also chaired a high-level meeting to review the financing needs for procurement of Covid-19 vaccine. The meeting was attended by the ADB team and senior government officials. The minister directed to ensure uninterrupted supply of vaccines and identify financing gaps, if any.
The ADB team commended the minister for economic affairs for his proactive approach and facilitation.
