According to ADB, the principal objective of the Program is to mitigate the adverse socio-economic effects of the economic crises and enhance the resilience of poor and vulnerable groups to socio-economic shocks. The scope of the proposed program includes implementation of (a) increased social protection measures; (b) increased food security measures; and (c) enhanced support for business.
The proposed program will support the government's efforts to provide relief while, in conjunction with other development partners aligned to the government's reform program with the International Monetary Fund (IMF), accelerate the ongoing implementation of structural reforms to improve Pakistan's medium-to long-term macroeconomic resilience and prospects.
The program is aligned with the government's strategic priorities and the objective to promote social inclusion by strengthening the support provided to poor and vulnerable groups, improving economic resilience, and supporting the trade related sectors. The program is also aligned with Strategy 2030 of the Asian Development Bank (ADB), particularly (i) operational priority (OP) 1: addressing remaining poverty and reducing inequalities; (ii) OP2: accelerating progress in gender equality; (iii) OP5: promoting rural development and food security; (iv) OP6: strengthening governance and institutional capacity; and (v) OP7: fostering regional cooperation and integration. The program is also aligned with ADB's country partnership strategy for Pakistan, 2021-2025, especially on reducing economic and social disparities, strengthening economic governance, and supporting private sector development. Pakistan meets all the criteria required to access ADB's countercyclical support facility, which include adverse impact of exogenous shocks, pro-poor countercyclical development expenditure program, public debt levels maintained at sustainable levels, and ongoing implementation of structural reforms.
|Responsible ADB Officer
|Tora, Laisiasa Natakubu
|Responsible ADB Department
|Central and West Asia Department
|Responsible ADB Division
|Public Management, Financial Sector and Trade Division, CWRD
|Ministry of Finance
ACCESS TO INFORMATION
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ACCOUNTABILITY MECHANISM OF ADB
The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main.