In a statement, the ADB said its president, Masatsugu Kanda, who is currently on a three-day visit to Pakistan, visited the Ravi River in Lahore, where he reviewed the flood situation and approved the emergency grant.

“Pakistan is facing a devastating flood that has displaced thousands of families and communities. At such a time, the ADB stands firmly with Pakistan. Whenever natural disasters strike, we respond swiftly so that affected communities can rebuild with dignity,” Kanda said.

Meeting with PM Shehbaz

During his visit, the ADB president met Prime Minister Shehbaz Sharif to express solidarity with flood victims and discuss investment, private sector participation, and Pakistan’s role in the energy sector.

Talks also covered ADB’s ongoing projects in transport, energy, urban development, education, and health.

Kanda praised Pakistan’s economic reforms, highlighting improved tax collection and recent upgrades in Pakistan’s credit rating by international agencies.

Reko Diq mining investment

Earlier, on August 21, the ADB approved a $410 million financing package for the Reko Diq mining project — marking the bank’s return to the mining sector after four decades.

The project is expected to position Pakistan as a key holder of copper and gold reserves while strengthening its role in the global shift to clean energy.

Community and business engagements

Kanda also visited the Benazir Income Support Programme’s One Window Centre in Islamabad, where he met beneficiaries and inaugurated a new grievance redressal system.

In Lahore, he toured Pakistan’s first sustainable aviation fuel plant — being built with ADB support — which will use recycled cooking oil.

He further engaged with leading business executives and CEOs to explore opportunities for private sector investment and partnerships in Pakistan.

High-level meetings

The ADB president also met Federal Minister for Economic Affairs Ahad Khan Cheema, Finance Minister Muhammad Aurangzeb, and Punjab Chief Minister Maryam Nawaz.

Discussions focused on Pakistan’s development priorities, the ongoing reform agenda, and future cooperation.

ADB’s long-term support

Since joining Pakistan as a partner in 1966, the ADB has provided over $43 billion in assistance. Its current sovereign portfolio includes 44 active projects worth around $9 billion.

The ADB, a multilateral development bank with 69 member countries, works across Asia and the Pacific to promote inclusive, sustainable, and resilient growth through innovation, financing, and partnerships.