By our correspondent
ISLAMABAD: The Asian Development Bank (ADB) has approved a significant financial package of $800 million to support Pakistan’s ongoing economic reforms, signaling continued international confidence in the country’s efforts to stabilize and grow its economy. The agreement, recently signed in Islamabad, comprises a $300 million loan dedicated to enhancing resource utilization through targeted structural reforms.
This loan forms part of a broader $800 million program, which also includes a $500 million policy-based guarantee from the ADB, designed to back the government’s reform agenda and provide fiscal assurance. Dr Kazim Niaz, Secretary of the Economic Affairs Division, represented Pakistan in the signing ceremony, while the ADB’s Country Director, Emafinn, signed on behalf of the bank.
The collaboration highlights a shared commitment to strengthening Pakistan’s economic foundations by addressing inefficiencies and promoting sustainable development. This infusion of support comes at a crucial time, as Pakistan grapples with multiple economic challenges including fiscal deficits, inflationary pressures, and the need to bolster investor confidence. The ADB’s involvement is expected to help unlock further resources, both domestic and international, by signaling improved governance and reform momentum.
