ADB To Provide $ 2.7 Billion To Pakistan During 2019


ADB to provide $ 2.7 billion to Pakistan during 2019

A Manila based lending company announces $200 million loan for BISP

LAHORE: (UrduPoint/Pakistan Point News-9th Oct, 2019) Pakistan will be provided $ 2.7 billon during the ongoing year, the Asian Development Bank (ADB) made an announcement, local media reports.

According to the details, the ADB will increases average lending to Pakistan to $ 2.4 billion a year under its approved Country Operations business Plan of 2020 to 2022. Previously, the regional bank was providing $ 1.4 billion on average from 2015 to 2018.

The bank will provide money to the country through mobilization of co-financing and funding from other sources.

“ADP is providing $ 2.7 billon to Pakistan to help it complete its development goals and will do it with the support of other development partners,” the bank said on its twitter account.

Media reports suggest that Benazir Income Support Program will also be provided a $ 200 million load as additional financing by a Manila based lending agency. A social financial protection development project, they said, would also be backed by ADB during the next five years.


Fida Hussnain

Fida Hussnain is a lahore based journalist. He writes on politics, religion, social issues and climate change. He is also a research fellow at University of Gujrat.