HomeBusinessADB; Welcome to the launch of an additional $100 billion fund.

ADB; Welcome to the launch of an additional $100 billion fund.

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KARACHI: Pakistan has welcomed the Asian Development Bank’s decision to allocate an additional $100 billion in funding to developing countries to address emerging challenges such as climate change. water and food insecurity and poverty in the next 10 years at the Asian Development Bank in Tbilisi Georgian Capital Ahad Khan Cheema, Governor of Pakistan, ADP, said Pakistan will be a developing member of the Capital Adequacy Framework in the next ten years. Support different countries It is hoped that this additional funding will be used by low- and middle-income countries in a fair and efficient manner. He said climate change is a major challenge for developing countries. As water and food insecurity increase poverty, Ahad Khan Cheema said no country, especially weak economies, can cope with the threat of climate change alone. The debt burden of member countries has not yet reached a serious level. He said in this regard Asian Development Bank Its new role as a climate change bank is important. He said that challenges the world, especially developing countries, must overcome today through cooperation and coordination. This includes the devastating effects of the global pandemic. climate change and geo-strategic tensions This includes increases in the prices of essential goods. Global growth rates lead to delays and increased poverty.

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