ADB announces US$ 330 million additional assistance to Pakistan

ISLAMABAD: The Asian Development Bank (ADB) in its annual report on Thursday announced additional assistance of US$ 330 million for Pakistan.

The funding is expected to benefit around 9.3 million people in the country. The aid will be utilized across various social security programs.

Conditional cash transfers will be provided to support the education of children and youth, report said.

The aim of this assistance is to ensure access to better nutrition. The initiative will benefit women, adolescent girls and children living in disaster-affected areas.

Additionally, the provision of healthcare services is also part of the aid program. The services will target marginalized segments of the population who are generally overlooked.

The Central and West Asia region have serious development and social welfare challenges. “Afghanistan, Kyrgyzstan and Pakistan have poverty and social security related issues,” according to the ADB report.

The ADB report said that the poverty rates remain high in these countries.

The Asian Development Bank emphasized that people in these countries have limited access to essential services, thus the Bank supports initiatives that promote social welfare.

Pakistan was provided US$ 2.99 billion financing in Year 2024 including over US$ 2.31 billion in loans and grants.

The country was provided over US$ 666.7 million in co-financing while US$ 500 million provided to tackle the impact of climate change, according to report.

Moreover, US$ 400 million provided for Sindh Emergency Housing Project, US$ 400 million given to enhance efficiency for the power distribution companies.

US$ 250 million financing provided for the public private partnership and US$ 320 million given for construction and repair of roads in Khyber Pakhtunkhwa, ADB report said.