Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal has urged the Asian Development Bank (ADB) to accelerate procedural work on Pakistan’s ML-1 project, while ADB President Masato Kanda assured continued support for the railway modernisation initiative.
The discussion took place on the sidelines of the 25th CAREC Ministerial Conference in Ulaanbaatar, Mongolia. Iqbal conveyed Prime Minister Shehbaz Sharif’s message that the required formalities for the ML-1 railway modernisation should be completed quickly so that groundbreaking can begin at the earliest opportunity.
Kanda said the ADB remained fully committed to ML-1 as a flagship project and would provide possible support to help move it forward. The project was also discussed in the wider context of improving Pakistan’s transport infrastructure and regional connectivity.
During the meeting, Iqbal also called for a dedicated ADB financing window for climate adaptation and resilience in highly vulnerable countries. He proposed using artificial intelligence and modern data systems to identify climate risks and direct financing toward areas facing greater vulnerability.
The minister further proposed a regional financing facility for CAREC countries, allowing member states to jointly develop projects with regional importance and seek financing competitively. Discussions also covered Pakistan’s critical minerals, regional trade routes and opportunities to strengthen links between Central Asia and Gwadar Port.
Pakistan and the ADB also agreed to explore studies for an export accelerator programme aimed at identifying product and market gaps, along with a study focused on improving floodwater storage and utilisation.
Iqbal stressed the importance of stronger rail and road connections between Turkmenistan, Afghanistan and Pakistan. The proposed links could improve regional connectivity and provide CAREC countries with greater access to Pakistan’s seaports
