PRESS RELEASE

Meeting Of Minister For Economic Affairs With Mr. Tomoyuki Kimura Director General, Strategy, Policy & Partnership Department (Spd), Asian Development Bank on 13 February, 2023.

Mr. Tomoyuki Kimura, ADB’s Director General, Strategy, Policy & Partnership Department (SPD) called on Federal Minister for Economic Affairs Mr. Sardar Ayaz Sadiq along with his delegation at Economic Affairs Division today.

Both sides discussed about the matters of bilateral economic cooperation between the Asian Development Bank and Government of Pakistan. The Minister for Economic Affairs thanked the Director General for ADB’s timely and critical assistance in the shape of BRACE to the tune of 1.5 USD billion and Emergency Assistance Loan of USD 475Million, in addition to a grant amount of USD 3 Million. 

Federal Minister Sardar Ayaz Sadiq expressed his general satisfaction over the existing portfolio management of 35 projects in various sectors. 

The Director General Mr. Tomoyuki Kimura thanked the Minister for his support in realizing the Bank’s vision and country strategy. He also briefed the Minister about the New Operating Model of the Bank which is going to be operational from mid-year 2023. He briefed the Minister about the salient features of the model that envisages greater delegation of executive and financial autonomy to the PRM alongside enhanced decision making in the private sector operations of the country. He informed that the emphasis on functional divisions of various sectors of the Bank instead of geographical division will make citizen - centric approach more fructuous by greater knowledge sharing, based on International best practices and lessons learnt. 

The Minister encouraged the Director General for timely indication of future commitments in the areas of Energy Sector Reform and Financial Sustainability Program Subprogram III, Women Inclusive Finance Sector Development Program, Public-Private Partnerships Reform Program and Domestic Resource Mobilization Program.

In conclusion, the Minister for Economic Affairs expressed gratitude to ADB delegation for their persistent support and assured them of full cooperation by the government for swift execution of the ongoing and future program.