ADB okays $800 mln for Pakistan

ISLAMABAD: The Asian Development Bank (ADB) has approved $800 million loan for Pakistan, ARY News reported on Tuesday.

According to the ADB’s official statement, the amount for Pakistan has been approved under Resources Mobilization Reforms Program.

The statement further stated that Pakistan enjoys majority of support of at the Asian Development Bank (ADB).

Earlier it was reported that the World Bank (WB) to invest $40 billion in Pakistan during 2026 to 2035 under its Country Partnership Framework (CPF).

Read more: World Bank to invest $40 billion in Pakistan

According to the documents, the Ministry of Economic Affairs begun developing a comprehensive implementation framework to support the initiative, which aligns with the government’s priorities and the National Economic Transformation Plan, Uraan Pakistan.

For the first time, the World Bank has adopted a 10-year framework instead of its usual five-year strategy, signaling a long-term commitment to Pakistan’s development.

In the first phase, Pakistan will receive $20 billion in sovereign loans from the World Bank’s International Development Association (IDA) and International Bank for Reconstruction and Development (IBRD).

These funds will be allocated to critical sectors, including education, health, climate change mitigation, clean energy, and air quality improvement.