Asian Development Bank (ADB) President Masato Kanda on Friday extended his condolences for the lives lost and individuals affected by the widespread monsoon rains and floods in Pakistan, announcing the lender will provide, upon request of Islamabad, a $3 million grant from the Asia Pacific Disaster Response Fund to support emergency relief efforts.
“Pakistan is experiencing devastating flooding that has displaced families and communities, and ADB stands firmly with Pakistan during this crisis,” said 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,” he added.
Currently on a 3-day visit to Pakistan, Kanda has met Prime Minister Shehbaz Sharif, discussing transformative investments, enhanced private sector engagement, and Pakistan’s role as a strategic supplier of critical minerals for the global clean energy transition. Their discussions covered ADB’s significant capital investments in transport, energy, and urban infrastructure as well as human capital development through education and health programs.
Kanda welcomed the Pakistan government’s progress on reforms, noting the sovereign ratings upgrades by major credit rating agencies underpinned by a significant improvement in domestic resource mobilization. He reaffirmed ADB’s commitment to deepening its partnership with Pakistan.
They also discussed ADB’s approval on Aug. 21 of a $410 million financing package for the Reko Diq Mining Project, marking ADB’s return to mining sector financing after a 40-year absence. One of the world’s largest undeveloped copper-gold deposits, Reko Diq will position Pakistan as a strategic supplier of critical minerals for the global clean energy transition.
Beyond these discussions, Kanda’s visit included direct engagement with communities and businesses. He toured the Benazir Income Support Program One-Window Center in Islamabad, where he interacted with program beneficiaries and jointly launched the Grievance Redressal Mechanism with BISP Chair Senator Rubina Khalid.
He also traveled to Lahore where he visited Pakistan’s first sustainable aviation fuel facility. Financed by ADB, it will convert waste cooking oils into sustainable aviation fuel for export markets. He also engaged with CEOs and business leaders to discuss how ADB can support expanding private sector participation and investment opportunities across Pakistan.
Kanda also 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. The discussions focused on Pakistan’s development priorities and ongoing reform agenda, in addition to how transformative projects like Reko Diq can foster resilient, inclusive growth to better prepare Pakistan for future challenges.