Islamabad: Asian Development Bank (ADB) President Masato Kanda has reaffirmed the Bank’s commitment to stand by Pakistan through crises and opportunities, following his three-day visit to the country.
In a post on his official X handle, Kanda said, “This week in Pakistan, I witnessed both devastating crisis and remarkable resilience.” He noted that Pakistan is experiencing its worst flooding in decades, with more than one million people displaced as swollen rivers caused widespread devastation.
Responding to the humanitarian emergency, ADB announced a USD 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,” Kanda added.
During his visit, the ADB president met with Prime Minister Shehbaz Sharif, offering condolences to the flood victims while discussing broader cooperation. Talks focused on transformative investments, private sector engagement, and Pakistan’s role as a supplier of critical minerals for the global green energy transition.
Kanda highlighted the Bank’s recent approval of a USD 410 million financing package for the Reko Diq project, which is expected to create thousands of jobs and strengthen Pakistan’s position in the global mineral supply chain.
In addition, Kanda toured Pakistan’s first sustainable aviation fuel facility, financed by ADB, which converts waste oil into renewable jet fuel. He also held discussions with CEOs on expanding private sector opportunities, underscoring ADB’s role from emergency relief to transformative investment.
The ADB president concluded his visit by stressing that the Bank will continue to support Pakistan in disaster recovery while also advancing long-term partnerships in energy, minerals, and social protection.
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