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Asian Development Bank approves loans worth USD 1.543 billion to Pakistan | ADB’s oxygen to the decaying Pakistan, got a loan of $ 1.543 billion for this work

Photo:FILE

ADB’s oxygen to the decaying Pakistan, got a loan of $ 1.543 billion for this work

Highlights

  • Asian Development Bank (ADB) will give $1.543 billion loan to Pakistan
  • ADB has made six financial agreements with Pakistan for this
  • The loan will be used for the country’s energy sector, roads, civil and health infrastructure.

Islamabad. The Asian Development Bank (ADB) will give a loan of $ 1.543 billion to the cash-strapped Pakistan. ADB has signed six financial agreements with Pakistan for this. The loan will be used to help improve and upgrade the country’s energy sector, road, civil and health infrastructure.

According to an official statement issued in this regard, Pakistan’s Economic Affairs Secretary Mian Asad Hayauddin and ADB Regional Director Yong Ye signed these loan agreements during a meeting here. These agreements include a policy-based loan of $300 million to support reforms at the financial, technical and governance levels to strengthen Pakistan’s energy sector.

In the same Khyber Pakhtunkhwa province, a financing agreement of $ 385 million has been signed to improve infrastructure in five cities. Economic Affairs Minister Omar Ayub Khan, who was present at the time of the agreement, also thanked ADB for the continued financial support.

ADB had earlier in August approved a $500 million loan to Pakistan to help buy anti-coronavirus vaccines.

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