ADB Lends Support to Pakistan Under 5-Year CPS

Asian Development Bank (ADB) has come to rescue the unstable economy of Pakistan and assist the country in growth as it has approved a new 5-year country partnership strategy (CPS).

ADB’s CPS 2021–2025 is aligned with Pakistan’s development vision under ADB’s Strategy 2030 and the Sustainable Development Goals (SDGs).

The partnership between Pakistan and ADB under CPS will focus to spur growth and improve livelihoods, generate employment, and create economic opportunities as the country gets on the recovery train following the coronavirus situation.

“The partnership will focus on enhancing economic management, building resilience through human capital development and social protection along with boosting competitiveness and private sector development”, ADB said in a statement.

Over the span of five years, ADB would help Pakistan to speed up reforms that would improve the trade possibilities leading to macroeconomic stabilization.

CPS would also reform the energy sector and pave way for capital in the sector.

In a bid to promote investments, the diversification of financial markets is also a feature of the strategy.

ADB will also uplift Pakistan’s education by channeling more investments in the sectors that would help in speeding reforms.

ADP will also devise strategies for more public-private partnership opportunities for Pakistan.

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Along with this, the CPS program will also empower women by inducting them into the economic bubble by making them skilled.

ADB will also boost Pakistan’s efforts for mitigating climate change as well as uplifting its risk management for precedented and unprecedented disasters.