Imran meets ADB, IMF heads in Davos

• The ADB and IMF expressed satisfaction over Pakistan’s efforts to improve the economy.
• ADB is cooperating with Pakistan in carrying out tax reforms and supporting the ‘Ehsaas programme’: Masatsugu Asakawa.
• Imran appreciates support of the financial organisations in making the country’s economy strong and stable.
• 

(Karachi) Prime Minister Imran Khan met Asian Development Bank (ADB) President Masatsugu Asakawa and International Monetary Fund (IMF) head Kristalina Georgieva on the sidelines of World Economic Forum in Davos, media reported on Wednesday.

The meetings focused on Pakistan government’s efforts to improve the economy and the utilisation of funds for development projects being undertaken across the country. Advisor on Finance Dr. Abdul Hafeez Sheikh, Governor State Bank of Pakistan Raza Baqir, Ambassador at large on investments Ali Jehangir Siddiqui were also present.

The IMF and ADB heads appreciated Pakistan’s financial status and economic stability. They also held a detailed discussion over measures to set the country on path of progress and prosperity.

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Meanwhile, the ADB agreed to extend financial support to Prime Minister Imran Khan’s ‘Ehsas Programme’. The decision was taken during a meeting of Prime Minister Imran Khan with ADB President Masatsugu Asakawa.

On the occasion, the ADB president said the ADB will support PM’s ‘Ehsaas Programme’ as it is an initiative aimed to alleviate poverty from the society. He expressed satisfaction over Pakistan government's efforts to improve the economy.

Asakawa said that Pakistan and the ADB have been working together for a long time. He added the talks with Imran Khan proved fruitful. He maintained, “We are cooperating with Pakistan in carrying out tax reforms and other related matters.”

He said Pakistan’s economy has improved and shows positive indicators. He said the ADB decided to extend support to Pakistan after its successful agreement with the International Monetary Fund (IMF).

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Meanwhile, Imran thanked the ADB president for showing confidence over Pakistan government’s economic reforms. He appreciated the support of the ADB in making the economy strong and stable.

The PM said Pakistan will continue to work in cooperation with the ADB to achieve its targets.

Earlier, the Asian Development Bank provided financial assistance worth billions of dollars to Pakistan as part of a pact to support its economy.

The monetary organisation approved Country Operations Business Plan (COBP) 2020-2022 will increase average lending to the country to $2.4 billion a year. The ADB stated it was ‘a record increase over the $1.4 billion average from 2015 to 2018'.

The lender also announced to extend up to $10 billion indicative lending to Pakistan for various development projects and programmes during the next five years.