ADB President to Attend Friends of Democratic Pakistan Summit in New York

MANILA, PHILIPPINES – Asian Development Bank (ADB) President Haruhiko Kuroda will visit the United States (US) on Thursday, where he will attend a summit-level meeting of the Friends of Democratic Pakistan.

The summit is being convened by Pakistan and will be attended by Pakistan President Asif Ali Zardari. US President Barack Obama and United Kingdom Prime Minister Gordon Brown will co-chair the event, which takes place in New York City on the sidelines of the 64th United Nations General Assembly.

More than 20 Heads of Government and senior representatives of countries and multilateral institutions are expected to attend.

The meeting provides an opportunity to reaffirm the international community's support for Pakistan's efforts to combat extremism, consolidate democracy, implement needed economic reforms, and encourage development, according to organizers. One of the main themes at the meeting will be energy security. ADB plays a major role in this sector.

Pakistan has received some $19.8 billion in loans since joining ADB in 1966, with about $14 billion disbursed as of the end of 2008. The record lending program in 2008 included a $1.87 billion disbursement and $1.2 billion in newly approved assistance.

As of the end of August, ADB's active portfolio in Pakistan included 46 public sector loans and three grants in the areas of infrastructure, utilities, social sectors and reforms amounting to $5.7 billion.

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