• About Us
  • Cookie Policy
  • Privacy Policy
  • Disclaimer
  • Contact Us
Saturday, May 31, 2025
  • Login
No Result
View All Result
Time Line News
  • Home
  • Latest News
  • Pakistan
  • World
  • Business
  • Sports
  • Entertainment
    Mahira Khan Delights Fans with Behind-the-Scenes Video from Upcoming Film ‘Love Guru’

    Mahira Khan Delights Fans with Behind-the-Scenes Video from Upcoming Film ‘Love Guru’

    UNICEF's Campaign Against Child Marriage Gains Momentum as Saba Qamar Joins the Cause

    UNICEF’s Campaign Against Child Marriage Gains Momentum as Saba Qamar Joins the Cause

    Vaani Kapoor’s ‘Abir Gulal’ Promotional Posts Disappear Amid India-Pakistan Digital Tensions

    Vaani Kapoor’s ‘Abir Gulal’ Promotional Posts Disappear Amid India-Pakistan Digital Tensions

    Urwa Hussain’s Statement Sparks Controversy Amid India-Pakistan Social Media Tensions

    Urwa Hussain’s Statement Sparks Controversy Amid India-Pakistan Social Media Tensions

    Hania Aamir Shuts Down Indian Media’s False Claims: A Bold Clarification Against Misinformation

    Hania Aamir Shuts Down Indian Media’s False Claims: A Bold Clarification Against Misinformation

    Amber Khan Breaks Silence on Marital Abuse: A Candid Revelation That Resonates with Many

    Amber Khan Breaks Silence on Marital Abuse: A Candid Revelation That Resonates with Many

    Pakistani Actors' Social Media Accounts Blocked in India Amid Rising Digital Censorship

    Pakistani Actors’ Social Media Accounts Blocked in India Amid Rising Digital Censorship

    Pakistani Actress Saba Faisal Rejects Indian Ad Offer, Cites Patriotism and National Integrity

    Pakistani Actress Saba Faisal Rejects Indian Ad Offer, Cites Patriotism and National Integrity

    Senior Bollywood Actress Mooshumi Chatterjee Reveals She Slapped Misbehaving Superstars: A Bold Stand for Dignity

    Senior Bollywood Actress Mooshumi Chatterjee Reveals She Slapped Misbehaving Superstars: A Bold Stand for Dignity

  • Technology
    Revolutionary Facial Tattoo Invented to Measure Mental Stress in Real Time

    Revolutionary Facial Tattoo Invented to Measure Mental Stress in Real Time

    Massive Data Breach Hits 7 Million Accounts from Netflix, Disney+, and Other Streaming Services

    Massive Data Breach Hits 7 Million Accounts from Netflix, Disney+, and Other Streaming Services

    Top Trending Smartphones of the Week: Xiaomi Leads as New Entries Shake Up the Chart

    Top Trending Smartphones of the Week: Xiaomi Leads as New Entries Shake Up the Chart

    Rain-Predicting Trees: Nature’s Weather Forecasters

    Rain-Predicting Trees: Nature’s Weather Forecasters

    Samsung Galaxy S25 Edge: Latest Leaks Reveal Design, Specs, and Pricing

    Samsung Galaxy S25 Edge: Latest Leaks Reveal Design, Specs, and Pricing

    TCL Unveils the New C6K QD-Mini LED TV Series: Best-in-Class Mini LED Innovation Meets Modern Living

    TCL Unveils the New C6K QD-Mini LED TV Series: Best-in-Class Mini LED Innovation Meets Modern Living

    Trending Tags

    • Sillicon Valley
    • Climate Change
    • Election Results
    • Flat Earth
    • Golden Globes
    • MotoGP 2017
    • Mr. Robot
  • Health
  • Editorial
    • Blog
    • Opinion
  • E-Paper
  • Home
  • Latest News
  • Pakistan
  • World
  • Business
  • Sports
  • Entertainment
    Mahira Khan Delights Fans with Behind-the-Scenes Video from Upcoming Film ‘Love Guru’

    Mahira Khan Delights Fans with Behind-the-Scenes Video from Upcoming Film ‘Love Guru’

    UNICEF's Campaign Against Child Marriage Gains Momentum as Saba Qamar Joins the Cause

    UNICEF’s Campaign Against Child Marriage Gains Momentum as Saba Qamar Joins the Cause

    Vaani Kapoor’s ‘Abir Gulal’ Promotional Posts Disappear Amid India-Pakistan Digital Tensions

    Vaani Kapoor’s ‘Abir Gulal’ Promotional Posts Disappear Amid India-Pakistan Digital Tensions

    Urwa Hussain’s Statement Sparks Controversy Amid India-Pakistan Social Media Tensions

    Urwa Hussain’s Statement Sparks Controversy Amid India-Pakistan Social Media Tensions

    Hania Aamir Shuts Down Indian Media’s False Claims: A Bold Clarification Against Misinformation

    Hania Aamir Shuts Down Indian Media’s False Claims: A Bold Clarification Against Misinformation

    Amber Khan Breaks Silence on Marital Abuse: A Candid Revelation That Resonates with Many

    Amber Khan Breaks Silence on Marital Abuse: A Candid Revelation That Resonates with Many

    Pakistani Actors' Social Media Accounts Blocked in India Amid Rising Digital Censorship

    Pakistani Actors’ Social Media Accounts Blocked in India Amid Rising Digital Censorship

    Pakistani Actress Saba Faisal Rejects Indian Ad Offer, Cites Patriotism and National Integrity

    Pakistani Actress Saba Faisal Rejects Indian Ad Offer, Cites Patriotism and National Integrity

    Senior Bollywood Actress Mooshumi Chatterjee Reveals She Slapped Misbehaving Superstars: A Bold Stand for Dignity

    Senior Bollywood Actress Mooshumi Chatterjee Reveals She Slapped Misbehaving Superstars: A Bold Stand for Dignity

  • Technology
    Revolutionary Facial Tattoo Invented to Measure Mental Stress in Real Time

    Revolutionary Facial Tattoo Invented to Measure Mental Stress in Real Time

    Massive Data Breach Hits 7 Million Accounts from Netflix, Disney+, and Other Streaming Services

    Massive Data Breach Hits 7 Million Accounts from Netflix, Disney+, and Other Streaming Services

    Top Trending Smartphones of the Week: Xiaomi Leads as New Entries Shake Up the Chart

    Top Trending Smartphones of the Week: Xiaomi Leads as New Entries Shake Up the Chart

    Rain-Predicting Trees: Nature’s Weather Forecasters

    Rain-Predicting Trees: Nature’s Weather Forecasters

    Samsung Galaxy S25 Edge: Latest Leaks Reveal Design, Specs, and Pricing

    Samsung Galaxy S25 Edge: Latest Leaks Reveal Design, Specs, and Pricing

    TCL Unveils the New C6K QD-Mini LED TV Series: Best-in-Class Mini LED Innovation Meets Modern Living

    TCL Unveils the New C6K QD-Mini LED TV Series: Best-in-Class Mini LED Innovation Meets Modern Living

    Trending Tags

    • Sillicon Valley
    • Climate Change
    • Election Results
    • Flat Earth
    • Golden Globes
    • MotoGP 2017
    • Mr. Robot
  • Health
  • Editorial
    • Blog
    • Opinion
  • E-Paper
No Result
View All Result
Time Line News
No Result
View All Result
Home Business

Pakistan Calls for Increased Support at 58th ADB Annual Meeting Amid Economic Crisis

by Web Desk
May 6, 2025
in Business
Pakistan Calls for Increased Support at 58th ADB Annual Meeting Amid Economic Crisis
Share on FacebookShare on Twitter

Overview of the 58th Annual Meeting of the Asian Development Bank (ADB)

Milan, Italy – The 58th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB) took place in Milan, drawing attention from global economic leaders amid rising financial uncertainties and geopolitical tensions. The high-profile event saw participation from key stakeholders across Asia and the Pacific, with discussions focused on boosting resilience, fostering inclusive growth, and responding to the impacts of climate change and global debt challenges.

During the meeting, Pakistan made a direct and urgent appeal to the ADB, seeking enhanced financial and technical assistance to navigate its ongoing economic crisis. Represented by Dr. Kazim Niaz, Secretary of the Ministry of Economic Affairs, Pakistan emphasized the need for institutional support to bolster the country’s fragile economy.

Pakistan’s Appeal for Economic Assistance

Economic Challenges Facing Pakistan

Addressing ADB member states, Dr. Kazim Niaz painted a sobering picture of Pakistan’s economic struggles. He outlined several key challenges confronting the country, including:

  • Mounting debt burden due to repeated borrowing and low foreign exchange reserves.
  • Climate vulnerability, with Pakistan being among the top 10 countries most affected by climate-related disasters.
  • Limited fiscal space to implement meaningful reforms or provide relief to a struggling population.

These issues, he explained, are hampering Pakistan’s ability to meet its development goals and sustain economic growth. Dr. Niaz appealed to the ADB to play a more proactive role in supporting Pakistan through soft loans, grants, and technical partnerships that can help rebuild infrastructure, improve public services, and tackle climate change challenges.

Emphasis on Transparency and Institutional Integrity

Dr. Niaz also emphasized Pakistan’s commitment to institutional integrity and governance reforms. He assured the ADB that all assistance would be utilized transparently to ensure effective delivery of aid. The focus, he said, was not just on financial inflow, but on building sustainable systems to prevent economic shocks in the future.

His remarks echoed Pakistan’s broader reform narrative in recent years, where the government has pledged to curb corruption, digitalize financial systems, and increase transparency in public procurement and development projects.

ADB’s Response and Regional Strategy

ADB’s Increased Lending Capacity

In his keynote address, ADB President Masato Kanda, who was delivering his first official speech in the role, acknowledged the economic hardships being faced by many member countries, including Pakistan. Kanda announced a significant policy shift: the ADB will increase its lending capacity by $100 billion over the next decade, a move designed to assist member nations in tackling growing financial pressures, climate change, and post-pandemic recovery.

Kanda emphasized the importance of inclusive and sustainable growth, noting that Asia-Pacific economies must enhance resilience to shocks, both environmental and financial. He reaffirmed the ADB’s support for climate financing, disaster risk management, digital transformation, and policy-based loans tailored to the needs of developing nations.

Tensions Between the U.S. and China Highlight Geopolitical Divisions

A notable subplot during the meeting was the geopolitical friction between the United States and China, two of the largest stakeholders in the ADB. The U.S. representative criticized the ADB’s continued lending to China, arguing that the world’s second-largest economy no longer qualifies as a developing country and should not receive concessional financing.

However, China pushed back strongly, reiterating its stance that it remains the world’s largest developing country. The Chinese delegation underscored its pivotal role as both a recipient and contributor to the ADB’s mission, and highlighted its collaboration with developing nations across Asia and Africa through projects focused on infrastructure development, trade facilitation, and poverty alleviation.

Observers noted that this public disagreement reflected broader tensions between the U.S. and China, especially as both nations vie for influence in multilateral development institutions like the ADB.

India Showcases Reform Achievements and Pushes for Efficiency

India’s Digital Transformation and Reform Success

Another highlight of the meeting was the address by Indian Finance Minister Nirmala Sitharaman, who detailed India’s reform journey under the ADB’s support. She credited the Digital India program with transforming service delivery in critical sectors such as:

  • Education: Digital platforms are now expanding access to learning across rural and urban areas.
  • Healthcare: Telemedicine and health portals have improved access to medical advice and public health awareness.
  • Financial inclusion: India has seen a significant rise in digital transactions and bank account ownership, especially among marginalized communities.

Sitharaman pointed out that these reforms had positioned India as a leader in inclusive digital innovation, setting an example for other developing economies.

Advocacy for Reduced Processing Times

The Indian delegation also raised concerns about the bureaucratic hurdles in securing ADB financing. Sitharaman called for streamlined processing timelines and simplified approval mechanisms to ensure that developing countries can access funds more quickly during crises. She stressed that time-sensitive development assistance can mean the difference between economic stability and collapse in countries facing financial or environmental emergencies.

Leadership Transition and Strategic Outlook

During the meeting, Uzbekistan was elected as the Chairman of the ADB Board of Governors for 2025–2026, marking a shift in leadership that reflects growing regional representation and the Central Asian country’s rising influence in multilateral forums.

ADB President Masato Kanda reiterated the bank’s commitment to collaborative development and emphasized the need for continued engagement with low-income and climate-vulnerable countries. He announced that the ADB would continue focusing on five key areas:

  1. Climate resilience and green development
  2. Digital connectivity and innovation
  3. Strengthened social protection
  4. Gender equality
  5. Regional cooperation and integration

Pakistan’s Way Forward: Strategic Collaboration with ADB

For Pakistan, the ADB remains one of the most crucial development partners. Over the past two decades, ADB has funded numerous projects in Pakistan spanning energy, transportation, water resources, education, and health. As Pakistan now grapples with high inflation, currency devaluation, and debt repayment pressures, enhanced ADB assistance could offer a lifeline.

Experts believe that Pakistan must now back its financial requests with demonstrable reforms. This includes increasing tax revenues, curbing subsidies, and pursuing sustainable development practices aligned with ADB’s strategic priorities.

Opportunities Through CPEC and Regional Integration

Pakistan can also leverage the China-Pakistan Economic Corridor (CPEC), a flagship project under China’s Belt and Road Initiative (BRI), to align its infrastructure investments with ADB-supported regional integration plans. Enhanced connectivity with Central Asia, the Middle East, and East Asia could help Pakistan overcome its economic isolation and attract more investment.

Conclusion: A Pivotal Moment for Economic Cooperation

The 58th ADB Annual Meeting was more than a diplomatic gathering—it was a clear reflection of the urgency for international collaboration in a world facing multiple crises. For Pakistan, the meeting provided a platform to voice its challenges and call for solidarity from development partners.

With the ADB announcing a $100 billion lending boost, and with global focus on resilience and reform, Pakistan now has a critical opportunity to secure aid, implement transformative reforms, and chart a path to long-term economic recovery.

Read more:..

Tags: commissiongovernmentinternationalNationalsocial mediatime line news
Web Desk

Web Desk

Related Posts

Fears of Further Inflation Rise Before Pakistan’s New Fiscal Year Budget: Ministry of Finance Issues Economic Outlook

Fears of Further Inflation Rise Before Pakistan’s New Fiscal Year Budget: Ministry of Finance Issues Economic Outlook

by Web Desk
May 30, 2025
0

Introduction: Rising Inflation Casts Shadow Over Upcoming Budget As Pakistan prepares to unveil its budget for the new fiscal year,...

Petroleum Institute of Pakistan Executive Learning Centre (PIP-ELC)

Petroleum Institute of Pakistan Executive Learning Centre (PIP-ELC)

by Web Desk
May 6, 2025
0

Islamabad: -The PIP Executive Learning Centre (ELC) serves the oil and gas industry by offering capacity-building programs in both technical...

Zindigi, powered by JS Bank, and the Federation of Pakistan Chambers of Commerce & Industry (FPCCI)

Zindigi, powered by JS Bank, and the Federation of Pakistan Chambers of Commerce & Industry (FPCCI)

by Web Desk
May 5, 2025
0

Zindigi, powered by JS Bank, and the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) have entered into a...

Standard Chartered Pakistan Awarded Banking Mandate by Siemens Energy Pakistan

Standard Chartered Pakistan Awarded Banking Mandate by Siemens Energy Pakistan

by Web Desk
May 5, 2025
0

Pakistan: Standard Chartered Pakistan has been awarded a comprehensive USD 130 million banking mandate by Siemens Energy approved in January...

Dubai Islamic Bank Pakistan Limited (DIBPL) Appoints Mr. Muhammad Ali Gulfaraz as Chief Executive Officer

Dubai Islamic Bank Pakistan Limited (DIBPL) Appoints Mr. Muhammad Ali Gulfaraz as Chief Executive Officer

by Web Desk
May 5, 2025
0

Karachi: Dubai Islamic Bank Pakistan Limited (DIBPL), a wholly-owned subsidiary of Dubai Islamic Bank UAE (DIB), is pleased to announce...

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Salman Khan's statement on women's clothing; A new debate has erupted on social media

Salman Khan’s statement on women’s clothing; A new debate has erupted on social media

4 months ago
Modi's consort Kangana Ranaut hailed Hasina Wajid's arrival in India as an honor

Modi’s consort Kangana Ranaut hailed Hasina Wajid’s arrival in India as an honor

10 months ago

Category

  • Home
  • Top Stories
  • Latest News
  • Pakistan
  • World
  • Business
  • Sports
  • Entertainment
  • Technology
  • Health
  • Lifestyle
  • Editorial
  • Blog
  • Opinion
  • E-Paper

Social Media

Facebook Instagram Twitter LinkedIn

About us

“Time Line News” is where knowledge meets enlightenment.

With a commitment to providing accurate, fair updates, we aim to be your go-to source for information on local and global events.

  • About Us
  • Cookie Policy
  • Privacy Policy
  • Disclaimer
  • Contact Us

Time Line News © 2024. All Rights Reserved. Website Designed & Developed by AK Web Solutions

No Result
View All Result
  • Home
  • Top Stories
  • Latest News
  • Pakistan
  • World
  • Business
  • Sports
  • Entertainment
  • Technology
  • Health
  • Lifestyle
  • Editorial
  • Blog
  • Opinion
  • E-Paper

Time Line News © 2024. All Rights Reserved. Website Designed & Developed by AK Web Solutions

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In