ADB announces $3m emergency grant for Pakistan flood relief
Bank president Masato Kanda on three-day visit to country
Staff Report
ISLAMABAD: The Asian Development Bank (ADB) will provide a $3 million grant to Pakistan from the Asia Pacific Disaster Response Fund to support emergency flood relief efforts in the country, according to a ADB statement on Friday.
“Asian Development Bank President Masato Kanda extended condolences for the lives lost and individuals affected by the widespread monsoon rains and floods in Pakistan. Demonstrating ADB’s rapid response capability, Mr Kanda announced that ADB will provide, upon request of the Government of Pakistan, a $3 million grant from the Asia Pacific Disaster Response Fund to support emergency relief efforts,” the statement read.
“Pakistan is experiencing devastating flooding that has displaced families and communities, and ADB stands firmly with Pakistan during this crisis,” said Kanda.
“When disasters strike, we respond quickly to help communities rebuild with dignity. This emergency support reflects our enduring commitment to Pakistan’s people through both immediate humanitarian needs and long-term development.”
ADB president is on a 3-day visit to Pakistan, during which he met with Prime Minister Shehbaz Sharif.
They discussed transformative investments, enhanced private sector engagement, and Pakistan’s role as a strategic supplier of critical minerals for the global clean energy transition, according to the statement.
“Their discussions covered ADB’s significant capital investments in transport, energy, and urban infrastructure as well as human capital development through education and health programmes.”
Kanda welcomed the Pakistan government’s progress on reforms, noting the sovereign ratings upgrades by major credit rating agencies underpinned by a “significant improvement in domestic resource mobilisation”.
He reaffirmed ADB’s commitment to deepening the partnership with Pakistan.
“They also discussed ADB’s approval on August 21 of a $410 million financing package for the Reko Diq Mining Project, marking ADB’s return to mining sector financing after a 40-year absence. One of the world’s largest undeveloped copper-gold deposits, Reko Diq will position Pakistan as a strategic supplier of critical minerals for the global clean energy transition.”
ADB has been supporting Pakistan since the country became a founding member in 1966, committing more than $43 billion to promote inclusive growth and improve infrastructure, energy, transport, and social services. ADB’s current sovereign portfolio includes 44 operations valued at about $9 billion, as per ADB data.
