(MENAFN- Gulf Times) The Asian Development Bank (ADB) will assist Pakistan to realise the potential of economic corridor development with a view to boosting industrial productivity, exports and job creation and thereby contribute to sustained, increased and equitable economic growth.
The technical assistance is part of the Pakistan Economic Corridors Programme (PECP) financed by the Department for International Development (DFID) of the UK and jointly delivered by ADB and DFID to promote regional trade and connectivity. Funding for the technical assistance will be provided by British government.
Outcome of the assistance will be economic corridor development policy and operational framework in line with best practice strategic policy framework for improving trade competitiveness.
Besides feasibility studies and analytical tools will be developed to make Pakistan economic corridor development hub.
The key focus of the technical assistance will be to study the potential corridors; enhance the value chain development programme along the corridors; strengthen strategies, policies, institutions and coordination; promote the role of the private sector; enhance capacity, and learn from best practices.
The technical assistance has been included in the ADB country operations' business plan for Pakistan 2018-20, as a follow-up to a small scale policy and advisory project for scoping potential economic corridors, and will support development of the subsequent ADB country partnership strategy for Pakistan for 2020-24, and country operations' business plans.
In 2015, ADB and DFID agreed upon PECP to support the government's strategy to strengthen regional connectivity and trade, accelerate economic growth and create jobs.
The programme consisted of significant investment in transport, investment and technical assistance to promote public-private partnerships and technical assistance to support transport sector policy and economic corridor planning.
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