ISLAMABAD: A four-day the annual meeting of the Asian Development Bank (ADB) will start today (Saturday) in Baku, Azerbaijan, and will continue until May 6, with the main focus on partnership for development.
Finance Minister Ishaq Dar left for Baku on Friday, a well-placed official source told his scribe the other day. About 3,000 government officials, business leaders, investors, journalists and civil society representatives will gather for the ADB’s 48th annual meeting of its board of governors. ADB Secretary WooChong Um had outlined what to expect from the 48th annual meeting of the ADB board of governors.
As one of the largest forums in the Asia Pacific Region, the ADB annual meeting is packed with events and activities, which could be overwhelming for first-time participants.
A source said that Dar would press the ADB for provision of facility of concessional loans to Pakistan, which would be used for repayment of the existing loans as well as to make up for budgetary shortfall.
He would discuss progress on the work of the World Bank group and the IMF meetings of the joint development committee and the IMF’s International Monetary and Financial Committee with the authorities concerned.
Pakistan will try to get concessional loans through an effective and active participation in the annual meeting of the Asian Development Bank.
The finance minister is likely to convince the ADB on his stance because ADB Country Head Werner Liepach has indicated the bank’s satisfaction over cooperation being extended by the government agencies in terms of damage estimates and relief efforts.
In a recent meeting with the finance minister, Werner Liepach highlighted economic rating of Pakistan by international agencies was getting better; the ADB was identifying additional options to help Pakistan in achieving development targets.
