ISLAMABAD: Prime Minister Shehbaz Sharif said that Asian Development Bank’s “Building Resilience with Active Countercyclical Expenditure” (BRACE) Programme would go a long way to improve Pakistan’s financial position and help flood victims, besides building resilience and infrastructure.

Prime Minister, addressing signing ceremony of $ 1.5 billion programme here, thanked ADB for extending timely support to Pakistan at a “critical time.”

He said ADB had always been a great partner and recalled institution’s support for solarisation of schools and other projects during his stint as chief minister of Punjab. He expressed gratitude to ADB President for “gracious support” to Pakistan which was aimed at providing social protection, promote food security and support employment for its people amid devastating floods and global supply chain disruptions.

Finance Minister Ishaq Dar recalling his “fruitful” meeting with ADB President in Washington said organisation had always supported Pakistan in a pragmatic way and also thanked Bank’s Vice President for timely support. According to ADB statement, $ 1.5 billion countercyclical support is part of a significant response package to support people, livelihoods and infrastructure in Pakistan in wake of recent floods which have affected over 33 million people and caused extensive damage to infrastructure and agriculture.

Published in The Daily National Courier, October, 25 2022

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