The Asian Development Bank (ADB) has announced that it will provide $2 billion annually to Pakistan over the next three years to support infrastructure development and climate-resilient initiatives. This commitment comes as Pakistan continues to recover from the devastating floods of 2022, which claimed the lives of 1,700 people and affected 33 million others. The government estimated the losses at $30 billion, yet only $10.9 billion in aid has been received, leaving a $19.1 billion shortfall.
The announcement was made during a meeting between President Asif Ali Zardari and ADB President Masatsugu Asakawa in Islamabad. President Asakawa reaffirmed ADB’s commitment to assisting Pakistan in addressing climate challenges and rebuilding essential infrastructure. He also praised Pakistan’s recent economic recovery and stabilization efforts.
President Zardari emphasized the dire need for increased climate finance, citing the long-term impact of the 2022 floods on the country’s economy, agriculture, education, and road infrastructure.
ADB’s country partnership strategy for Pakistan (2021–2025) targets improving economic management, building resilience, and enhancing private sector development. To date, the bank has committed $41.4 billion through 755 loans, grants, and technical assistance for public sector projects in Pakistan. Its current portfolio includes 55 loans and four grants totaling $10.11 billion.
