ISLAMABAD - Tomoyuki Kimura, ADB’s Director General, Strategy, Policy and Partnership Department (SPD) called on Federal Economic Affairs Minister Sardar Ayaz Sadiq alongwith his delegation at Economic Affairs Division. Both sides discussed about the matters of bilateral economic cooperation between the Asian Development Bank and Government of Pakistan. The Economic Affairs Minister thanked the Director General for ADB’s timely and critical assistance in the shape of BRACE to the tune of $1.5 billion and Emergency Assistance Loan of $475 million, in addition to a grant amount of $3 million. Federal Minister Sardar Ayaz Sadiq expressed his general satisfaction over the existing portfolio management of 35 projects in various sectors. DG Tomoyuki Kimura thanked the minister for his support in realising the bank’s vision and country strategy. He also briefed the minister about the New Operating Model of the bank which is going to be operational from mid-year 2023. He briefed the minister about the salient features of the model that envisages greater delegation of executive and financial autonomy to the PRM alongside enhanced decision making in the private sector operations of the country.
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He informed that the emphasis on functional divisions of various sectors of the bank instead of geographical division will make citizen - centric approach more fructuous by greater knowledge sharing, based on international best practices and lessons learnt. The minister encouraged the DG for timely indication of future commitments in the areas of Energy Sector Reform and Financial Sustainability Programme Subprogram III, Women Inclusive Finance Sector Development Programme, Public-Private Partnerships Reform Programme and Domestic Resource Mobilisation Programme. In conclusion, the minister expressed gratitude to ADB delegation for their persistent support and assured them of full cooperation by the government for swift execution of the ongoing and future programme.