Pakistan Secures $500 Million ADB Loan for Climate Protection Initiatives

Islamabad-(Mudassar Iqbal): Pakistan’s Finance Minister, Muhammad Aurangzeb, expressed appreciation to the Asian Development Bank (ADB) for approving a $500 million loan designated for climate resilience projects.

In a meeting with ADB President Masatsugu Asakawa in Washington, Aurangzeb underscored the bank’s continued support for Pakistan’s development priorities, especially in strengthening defenses against natural disasters.

The discussion covered ways to increase Pakistan’s revenue, enhance regional cooperation, and speed up the establishment of the ADB’s office in Islamabad. Aurangzeb also expressed optimism for the prompt execution of the ADB’s country partnership framework.

Additionally, the ADB board will review Pakistan’s request for further financial support during an October 29 meeting.