ADB President reaffirms support for Pakistan
Asian Development Bank (ADB) President Masato Kanda has reaffirmed the Bank’s commitment to support Pakistan through every challenge and opportunity, following a three-day visit to Pakistan.
In a post and video clip on his official X handle, he said, “This week in Pakistan, I witnessed both devastating crisis and remarkable resilience. Pakistan is experiencing its worst flooding in decades. More than one million people have been evacuated as monsoon-swollen rivers have brought devastation.
In response to the humanitarian emergency, the ADB would provide, upon Pakistan’s request, a $3 million grant through its Asia-Pacific Disaster Response Fund to support flood recovery efforts.
“This rapid response demonstrates ADB’s commitment to stand with Pakistan in times of urgent need, just as we partner for long-term prosperity”, he added.
During his visit, he met with Prime Minister Shehbaz Sharif, to whom he extended his condolences to the flood victims.
They also discussed transformative investments, enhanced private sector engagement and Pakistan’s role as a strategic supplier of critical minerals for the global green energy transition.
He highlighted that the bank recently approved $410 million financing package for Reko Diq which will create thousands of jobs while positioning Pakistan as a key supplier of critical minerals.
At the Benazir Income Support Programme Centre, he witnessed how social protection transformed lives.
“I met mothers now able to send their children to school”, he said.
He also visited Pakistan’s first sustainable aviation fuel facility, financed by ADB, which converts waste oil into sustainable aviation fuel.
In a meeting with CEOs, the president discussed ways to expand private sector opportunities in Pakistan from emergency relief to transformative investment, from crisis response to strategic partnership.
