Cheema seeks ADB action on ML-1

The Express Tribune reported that Pakistan has asked the Asian Development Bank for wider private-sector lending and quicker processing of the ML-1 Railway Upgradation Project. ADB President Masato Kanda agreed to speed up the bank's internal procedures for the flagship scheme during a meeting with Federal Minister for Economic Affairs Ahad Khan Cheema in Bangkok. Details of the talks, held during the 2026 Annual Meetings, came in a Thursday statement.

Cheema congratulated Kanda on his re-election and welcomed the approval of the bank's partnership plan for Pakistan covering 2026 to 2030. He wanted more non-sovereign work in Pakistan, a stronger permanent office on the ground, and a wider set of public-private partnership proposals. He also urged an early finish to the ML-1 feasibility study and the start of procurement, noting ADB's lead role.

Cheema also met IsDB Group Chairman Dr Muhammad Sulaiman Al Jasser to discuss Pakistan's 2026-2030 country partnership strategy, which envisages indicative IsDB Group financing of $5.6 billion. He praised IsDB's $475 million for the M-6 Sukkur-Hyderabad Motorway and a newly cleared $100 million for polio eradication Phase V. He sought greater IsDB support for ML-1 and a group-wide approach involving affiliated institutions to expand export finance, SMEs and energy transition. Cheema further noted over $1 billion in trade financing mobilised through ITFC during FY2025-26 and asked for more competitive terms, citing Pakistan's improving economic and credit standing.