Daily Times

Director General Asian Development Bank (ADB), Werner Leipach and Country Director ADB, Ms Xiaohong Yang called on Adviser to the Prime Minister on Finance, Revenue and Economic Affairs, Dr Abdul Hafeez Shaikh, and discussed matters relating to ADB’s upcoming operations in Pakistan. The Director General briefed the Adviser that in addition to strong project portfolio, the Bank is also keen to provide balance of payment financing to support Government of Pakistan’s structural reform agenda. This budgetary support is estimated to be about dollars 2 billion in the fiscal year 2020 and will broadly cover such policy reform areas as trade competitiveness, energy sector and capital markets development. The Adviser thanked the visiting Director General for strong support and reiterated government’s commitment to undertake the much-needed reforms to achieve stability and economic turnaround.