Asian Development Bank (ADB) President Haruhiko Kuroda will also visit Pakistan on his first trip to South Asia as head of the Manila-based multilateral development bank. A press release issued by the ADB in Manila said on Friday that Kuroda will be in India from 31st August to 1st September, and in Pakistan from 5-6 September.

His visits will reaffirm ADB's long-term commitment to the economic development of the two countries. During these visits, Kuroda will meet high-ranking government officials from both the countries. In Pakistan, the ADB president will participate in a briefing session that would highlight the government's economic development priorities, Kuroda will also visit Khushhal Bank, a microfinance bank established under ADB's pioneering assistance for the sector in Pakistan.

ADB and Pakistan have been development partners for over three decades. As of December 31, 2004 ADB had provided cumulative assistance of $14.3 billion plus a total of $138 million in technical assistance grants.

In the past three years, ADB has lent an average of $907 million per annum to Pakistan.-PR

Copyright Business Recorder, 2005