ISLAMABAD: Pakistan and the Asian Development Bank (ADB) have agreed to launch a joint export accelerator programme aimed at boosting the country’s exports and strengthening its economic competitiveness.
The agreement was reached during a meeting between Minister for Planning, Development and Special Initiatives Ahsan Iqbal and ADB President Masato Kanda on the sidelines of the CAREC Ministerial Conference in Mongolia on September 30.
During the meeting, Ahsan Iqbal called on the ADB to establish a dedicated financing window for climate adaptation and resilience in highly vulnerable countries, beyond existing country allocations.
The minister said international financial institutions needed to move beyond the traditional post-war reconstruction framework to address emerging global challenges, particularly the growing risks posed by climate change.
He also highlighted the strategic importance of the ML-1 railway project and conveyed Prime Minister Shehbaz Sharif’s message calling for the early completion of procedural formalities so that groundbreaking on the project could begin at the earliest.
ADB President Masato Kanda assured Pakistan of the bank’s continued commitment to ML-1 as a flagship project and said the ADB would extend all possible support to advance the initiative.
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The discussions also focused on improving regional connectivity through integrated rail and road networks. Ahsan Iqbal stressed the importance of developing transport links connecting Turkmenistan, Afghanistan and Pakistan, saying stronger regional infrastructure could provide CAREC countries with greater access to Gwadar Port.
The proposed connectivity network is intended to facilitate trade and transport links across the region while strengthening Pakistan’s role as a potential regional transit and trade hub.
The agreement on the export accelerator programme, alongside discussions on ML-1, climate resilience and regional connectivity, reflects a broader focus on expanding economic cooperation between Pakistan and the ADB.
