The Asian Development Bank (ADB) announced it will provide a $3 million grant from the Asia Pacific Disaster Response Fund to support Pakistan’s emergency flood relief efforts, following a request from the Government of Pakistan. ADB President Masato Kanda expressed condolences for the lives lost and communities affected by the widespread monsoon flooding during his three-day visit to the country.
Pakistan is experiencing devastating flooding that has displaced families and communities, and ADB stands firmly with Pakistan during this crisis, said Masato 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.”
During his visit, Masato Kanda met with Prime Minister Shahbaz Sharif to discuss transformative investments, enhanced private sector engagement, and Pakistan’s emerging role as a strategic supplier of critical minerals for the global clean energy transition. Their conversations covered ADB’s substantial capital investments in transport, energy, urban infrastructure, and human capital development through education and health programs.
Masato Kanda praised Pakistan’s reform progress, highlighting sovereign rating upgrades by major credit agencies driven by improved domestic resource mobilization. He reaffirmed ADB’s commitment to strengthening its partnership with Pakistan and discussed the recent approval of a $410 million financing package for the Reko Diq Mining Project on August 21. This marks ADB’s return to mining sector financing after 40 years and will help develop one of the world’s largest undeveloped copper-gold deposits, positioning Pakistan as a key supplier of critical minerals for clean energy initiatives.
Beyond high-level meetings, Masato Kanda engaged directly with communities and businesses. He toured the Benazir Income Support Programme One-Window Centre in Islamabad, interacting with beneficiaries and launching the Grievance Redressal Mechanism alongside BISP Chair Senator Rubina Khalid. In Lahore, he visited Pakistan’s first sustainable aviation fuel facility, an ADB-financed project that converts waste cooking oils into sustainable aviation fuel for export markets. He also met with CEOs and business leaders to explore opportunities for expanded private sector participation and investment.
Masato Kanda held productive discussions with key government officials, including ADB Governor and Minister for Economic Affairs Ahad Khan Cheema, Finance Minister Muhammad Aurangzeb, and Punjab Chief Minister Maryam Nawaz Sharif. These conversations focused on Pakistan’s development priorities, ongoing reform agenda, and how transformative projects like Reko Diq can foster resilient, inclusive growth to better prepare the country for future challenges.
