Islamabad:Pakistan and the Asian Development Bank (ADB) have reached an agreement on a joint export accelerator programme aimed at boosting Pakistan's exports. This decision was made during a meeting between Pakistan's Minister for Planning, Development and Special Initiatives, Ahsan Iqbal, and ADB President Masato Kanda on the sidelines of the CAREC Ministerial Conference.

According to Radio Pakistan, Ahsan Iqbal called on the ADB to establish a dedicated financing window focused on climate adaptation and resilience for countries that are highly vulnerable, surpassing current country allocations. He emphasized the need for global financial institutions to adapt beyond traditional post-war reconstruction frameworks to tackle emerging challenges, especially those related to climate vulnerability.

Iqbal highlighted the strategic significance of the ML-1 railway project and conveyed Prime Minister Shehbaz Sharif's directive to expedite the necessary procedural formalities so that groundbreaking could commence promptly. The ADB President assured that the organization is committed to the ML-1 project as a flagship initiative and pledged full support to advance it.

Additionally, Ahsan Iqbal underscored the importance of enhancing regional connectivity through integrated rail and road networks. He noted that linking Turkmenistan, Afghanistan, and Pakistan could provide CAREC countries with improved access to Gwadar Port.