ISLAMABAD (Online) Director General for Central & West Asia Department ,Asian Development Bank (ADB) Werner Liepach has said that the bank is committed to continue its support to the deprived segments of the society in Pakistan, through the platform of BISP.
He expressed this during a meeting with Secretary BISP here on Monday . The meeting was attended by country representatives of ADB and Director Generals from the BISP HQs.
ADB has allocated US $300 Million specifically for BISP, under its Country Operations Business Plan (COBP) for Pakistan, for the next three years from 2019-2021. This funding will be used for up-scaling of the ongoing programs and launching of new BISP initiatives, especially targeted towards poverty alleviation and gender empowerment. ADB is exclusively focusing on the BISP graduation model and has assured full financial support for its implementation. The pilot phase of ADB financed program for graduating of BISP beneficiaries out of the poverty has already been initiated and based on its success, a full scaled project will be launched for the BISP beneficiaries across the country. Werner also assured that the Portfolio Review of the ADB financed projects of BISP would be accelerated to enable preparation for the upcoming projects.
Liepach stated that the newly elected Government of Pakistan has much more emphasis on social sector initiatives and is more inclined towards executing social sector initiatives through indigenous funding or soft grant options. ADB appreciates this approach and is strongly committed for future mutual cooperation keeping in view the GOP priorities by offering concessional funding, Mr Werner further stated.
Secretary BISP Omar Hamid Khan welcomed the support exhibited by ADB for BISP programs and stated that ADB has a pivotal role in supporting women empowerment and poverty reduction in the country. He added that BISP engagement history with ADB reflects harmony in mutual understanding of both the organizations. Reciprocating Mr Werner’s commitment for support, Secretary BISP ensured full cooperation in timely and efficient execution of all future programs and initiatives.
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