ADB; Welcome to release of additional funds of 100 billion dollars

Karachi: Pakistan has welcomed the decision of the Asian Development Bank to allocate additional funds of 100 billion dollars for developing member countries to deal with emerging challenges such as climate change, water and food insecurity and poverty in the next 10 years. will

Addressing the 57th annual meeting of the Asian Development Bank in Tbilisi, the capital of Georgia, Governor of Pakistan ADP Ahad Khan Cheema said that for the successful completion of the Pakistan Capital Adequacy Framework and support for developing member countries in the next ten years. Appreciates the release of $100 billion, hoping that this additional funding will be used fairly and efficiently by low- and middle-income countries.

He said that climate change is a major challenge which developing member countries are more affected and its effects are making Pakistan’s economic challenges more complicated, water and food insecurity are increasing poverty.

Ahad Khan Cheema said that no country, especially weak economies, can deal with the threat of climate change alone. The debt burden did not reach critical levels.

He said that in this regard, the new role of the Asian Development Bank as a climate bank is very important. He said that the challenges that the world, especially the developing countries, have to overcome today with cooperation and coordination, which include the devastating effects of global epidemics, climate change and geo-strategic tension, which include the increase in the prices of essential goods, the global growth rate. are leading to slowness and increase in poverty.