Pakistan Resident Mission January 2020 New ADB President Masatsugu Asakawa Assumes Office "I am honored to assume the role of ADB in Fukuoka, Japan. Furthermore, in the President and to begin working in close immediate aftermath of the Global Financial cooperation with our 68 members. ADB has Crisis, he took part in the rst G20 Leaders’ been a trusted partner of the region for more Summit Meeting in his capacity as Executive than half a century, supporting strong growth that Assistant to the then Prime Minister Taro Aso. has improved the lives of people across Asia and Mr. Asakawa has had frequent engagement with the Pacic. I will strive to ensure ADB remains the Organisation for Economic Co-operation the preferred choice of its clients and partners," and Development, including as Chair of the Mr. Asakawa said. Committee on Fiscal Affairs from 2011 to 2016. Mr. Asakawa succeeds Mr. Takehiko Mr. Asakawa’s extensive international Nakao, who stepped down on 16 January 2020. experience includes service as Chief Advisor to In a career spanning close to four decades, ADB President Mr. Kimimasa Tarumizu between Mr. Asakawa has held a range of senior positions 1989 and 1992, during which he spearheaded at the Ministry of Finance of Japan, including Vice the creation of a new ofce in ADB focused on Minister of Finance for International Affairs, and strategic planning. gained diverse professional experience in Mr. Asakawa served as a Visiting Professor development policy, foreign exchange markets, at the University of Tokyo from 2012 to 2015 Masatsugu Asakawa assumes ofce as the and international tax policy. and at Saitama University from 2006 to 2009. 10th President of the Asian Development Bank He served as Finance Deputy for the 2019 He obtained his Bachelor of Arts from the (ADB) on 17 January 2019. G20 Osaka Summit and the G20 Finance University of Tokyo in 1981 and MPA from Ministers and Central Bank Governors meeting Princeton University in 1985. Year in Review: ADB Disbursed Record $2.4 Billion Development Assistance to Pakistan in 2019 n 2019, ADB's loan and grant disbursements Alleviation Strategy aimed at reducing inequality Pakhtunkwa and the Water Resources Project in to Pakistan amounted to $2.4 billion, and investing in economically disadvantaged Punjab. Icomprising $1.8 billion in program lending people. In agriculture, ADB approved a major and $634.3 million in project lending. ADB approved a $235 million loan to Sindh change in scope of Trimmu and Panjnad barrages in 2019 to help develop a bus rapid transit (BRT) adding Islam barrage by utilizing surplus loan ADB-Supported Programs and Projects system with innovative energy and climate proceeds of $21 million, and initiated work on ADB provided $1.8 billion in policy-based resilience features in Karachi, Pakistan's largest $275 million Jalalpur Irrigation Project. ADB loans, including $1billion in immediate budget and most populated city. ADB also approved a approved a grant of $5.1 million for enhancing support to shore up the country's public nances $75 million project to Enhance Secondary Punjab technology based agriculture and and $500 million to improve trade Education in Sindh. marketing, market development and preparing competitiveness. ADB also provided additional To help strengthen project readiness prior Kurram Tangi Integrated Water Resources nancing of $200 million to help support the to approval, ADB approved project readiness Development Project. Benazir Income Support Program (BISP) — part nancing totaling $17.3 million in 2019 for the In the energy sector, ADB maintained its of the government's agship Ehsas Poverty Cities Improvement Project in Khyber strong presence with an ongoing portfolio of (continued on page 2) How Women-led Green Enterprises in Vice-President Shixin Chen Reafrms ADB's Strong Commitment to Pakistan's Pakistan Helped Rebuild Climate- Development-ADB Director General for Central West Asia calls on the Prime Minister-CAREC Regulators Forum 2019-Balochistan Water Sector Resilient Roads Development Project-Karachi Breeze Red Line-Accelerating Urban Project Women nursery owners in northern districts near with New Financing Instrument-ADB provides $75 Million to Road in KPK-ADB Islamabad grew millions of plants to protect roads and Supports Pakistan's FATF Plan-ADB, Kashf Foundation Partner to Expand prevent future landslides, in the process creating jobs Women Access to Credit-Pakistan Opens Key Motorway 4 Section-ADB Project and nancial independence for women in the villages. to Enhance Secondary Education in Sindh. PAKISTAN NEWS PAKISTAN NEWS Continued from page 1 $2.2 billion covering energy generation, section). The ADB-administered M4 project Infrastructure Investment Bank (AIIB) and transmission, distribution, energy efciency, was conanced with AIIB, alongside grant Agence Française de Développement — to Vice-President Shixin Chen Reaffirms ADB's Strong Commitment to renewable energy development, and analytical conancing from DFID. This was AIIB’s rst ever build a 26.6-km state-of-the-art BRT system in tools and advisory assistance. project. Karachi. Pakistan's Development In 2019, ADB committed a $300 million The Pakistan National Transport Policy and Nonsovereign Operations DB Vice-President Shixin Chen met with policy-based loan that will help Pakistan to Maser Plan supported by ADB and DFID was Commitments in nonsovereign operations the Prime Minister of Pakistan Imran address nancial sustainability, governance, and ofcially launched following its approval by the funded by ordinary capital resources for the AKhan during his rst ofcial visit to the energy infrastructure policy constraints. federal cabinet in 2018, and Road Safety and period 2007 to 2019 totaled $767 million, with country on 29–30 August, during which he ADB's ongoing portfolio in the transport Road Asset Management secretariats promoted $15 million committed in 2019. A $15 million reafrmed ADB’s support for Pakistan’s sector totals $2.5 billion and spans urban development priorities. corridors, border crossing points, greeneld During his 2-day visit to Pakistan, VP Chen motorways and expressways, and existing also met with the Adviser to the Prime Minister national and provincial highways. In 2019, ADB ADB also provided an additional financing of $200 on Finance and Revenue Abdul Hafeez Shaikh; committed a $75 million loan to widen and million loan to help support the Benazir Income Support Minister for Economic Affairs Muhammad u p g r a d e 4 2 k i l o m e t e r s o f t h e b u s y Program (BISP) — part of the government's flagship Poverty Hammad Azhar; Chairperson of the Benazir Mardan–Swabi road in the Khyber Pakhtunkhwa Alleviation Program 'Ehsaas' which aims to reduce inequality Income Support Program Sania Nishtar; province. Minister for Energy Omar Ayub Khan; and other ADB successfully completed the Flood and invest in economically disadvantaged people. senior government ofcials. Emergency Reconstruction and Resilience “ADB has an enduring development PID Project, under which 1,740 km of provincial partnership with Pakistan. Over the last ve ADB Vice-President VP Shixin Chen (second from right) and the Prime Minister of Pakistan Imran Khan (right) during highways and districts roads were rehabilitated decades, Pakistan and ADB have worked their meeting. and repaired in 20 ood affected districts of under the National Transport Policy were loan to Kashf Foundation was signed in August together to develop the country’s key Punjab. Another 204 km of major roads were established. for the Expanding Access to Credit for Women infrastructure, promote exports and private aimed at developing the country’s social Abdal–Havelian Expressway (E-35) constructed rehabilitated, and 75 km of district roads were ADB secured nancing of $49 million ($37 Project. The funding will support Kashf sector efciency, reform public sector protection, urban services, energy security, with the support of ADB and the Department repaired in the three districts. About 800 million loan and $12 million grant) from the Foundation’s lending to low-income women, management, develop the country’s nancial transport, agriculture and water resources, for International Development (DFID) of the Green Climate Fund-supplementing a proposed female micro- and small entrepreneurs and low- market, improve urban services, provide education, trade, and tourism. This will help spur United Kingdom, Pehur Irrigation Project, and a cost schools in Pakistan. emergency assistance, and prioritize social inclusive and sustainable economic growth,”VP facilitation center of the Benazir Income Support ADB’s Trade Finance Program (TFP) lls sector.” said VP Chen. “ADB is committed to Chen said. Program, and met with beneciaries. market gaps by providing guarantees and loans support the government’s reform agenda to During the visit, VP Chen visited the Hasan In 2019, ADB committed a $300 million policy-based through partner banks in support of trade. In promote inclusive and sustainable economic loan that will help Pakistan to address financial Pakistan, the TFP works with 13 banks and has growth, develop key infrastructure, strengthen supported $16.03 billion in trade and 5,159 regional cooperation, attract investments, and ADB is committed to support the government's reform sustainability, governance, and energy infrastructure policy transactions as of November 2019 - 52.9% of constraints. promote industry and the private sector.” agenda to promote inclusive and sustainable economic the $16.03 billion was conanced by the private “ADB plans to provide Pakistan about $7 sector. The Supply Chain Finance Program has billion in fresh assistance for various growth, develop key infrastructure, strengthen regional supported $0.88 million in trade over 5 development projects and policy-based cooperation, attract investments, and promote industry and transactions as of November in Pakistan and hectares of landslide area was stabilized in the loan of $435 million; $235 million was from programs during the next three years under its the private sector. mobilized $0.44 million in conancing.