Pakistan in CAREC
- Pakistan joined CAREC in 2010
ADB loan to help Pakistan end crippling power problems
The Asian Development Bank (ADB) has approved a $400 million loan to support ongoing reforms to tackle the country's chronic energy crisis. Read more
As one of the newest members of the CAREC Program, Pakistan is helping to realize the program's vision of seamless transport connectivity among the countries of Central, South, and East Asia-and of access for all these countries to warm water ports on the Arabian Sea.
Highlights from the Asian Development Outlook 2014:
Macroeconomic and security challenges continue to weigh on the economy. Growth is expected to remain modest in FY2014, largely reflecting fiscal consolidation to deal with high deficits that have caused macroeconomic imbalances. The government has embarked upon a program of fiscal and structural reform, supported by an Extended Fund Facility Arrangement with the International Monetary Fund, to restore macroeconomic balance, relieve energy shortages, and guide the economy toward faster and more sustainable growth. Read more.
Partner Institutions and Pakistan
- Asian Development Bank
- International Monetary Fund
- United Nations Development Programme
- World Bank