Aurangzeb thanks ADB's US$ 500 mln loan to Pakistan

WASHINGTON: Pakistan’s Finance Minister Muhammad Aurangzeb has thanked Asian Development Bank President for approval of US$ 500 mln loan for climate protection.

Pakistan’s FM called on ADB President Masatsugu Asakawa in Washington and appreciated the bank’s support for the Pakistan’s development agenda and approval of US$ 500 mln policy-based loan for climate protection and safety programme for natural disasters in country.

In the meeting the two officials also agreed over increase in Pakistan’s revenues, regional cooperation and timely completion of the ADB office in Islamabad.

The finance minister hoped for an early completion of the ADB’s country partnership framework.

The ADB Board in its meeting on October 29, will consider Pakistan’s request for new loan.