More than 700 youth and startups from around the world presented innovative solutions to three challenges, it said adding ADB
and AIM defined the three challenges based on current organizational and development needs.
"The establishment of this Advisory Group will allow ADB
to gain insights and strategic advice from digital technology industry leaders as well as academia on how ADB
can provide high-quality support for the development agenda of our developing member countries," ADB
As per the press statement, ADB
plans to provide $7 billion to Pakistan for various development projects and policy-based programmes over the next three years.
's $2.75 billion financing for the construction of a 53.1-kilometer passenger railway connecting Malolos in Bulacan to the Clark International Airport (CIA) in Pampanga is the multilateral institution's single largest infrastructure investment ever here or in any other country.
On the other hand ADB
has launched program based financing for Pakistan.
and the World Bank had suspended budgetary support for Pakistan in 2017 after its macroeconomic conditions started deteriorating.
Within the framework of the previous strategy covering 2014-2018, ADB
approved the provision of loans and grants to Azerbaijan totaling $3.04 billion.
said, however, local currency bond markets in emerging East Asia continued to expand despite the trade conflicts and slowdown in global economic growth.
The announcement was first made by Planning and Development Minister Makhdum Khusro Bakhtyar at a news conference and then reconfirmed by Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh through his official Twitter account after a meeting with two senior officials of the ADB
Werner Liepach appreciated the recent development in power sector and expressed commitment of ADB
for extending its support to the sector in its various fields.
1980s: In the wake of the second oil crisis, ADB
continued its support to infrastructure development, particularly energy projects.
's new lending and grant operations in 2018 grew to a record $21.6 billion compared to $13.9 billion in 2013, an increase of 55%.