Pakistan and the Asian Development Bank (ADB) have signed a major financial assistance package worth $800 million to support the country’s ongoing economic reforms and strengthen fiscal resource utilization, according to the spokesperson for the Ministry of Economic Affairs.
As part of the package, a $300 million loan agreement has been formally signed between the government of Pakistan and ADB. In addition, the ADB has also extended a policy-based guarantee of $500 million, bringing the total value of the support program to $800 million.
The agreement was signed by Economic Affairs Division Secretary Dr. Kazim Niaz on behalf of the government of Pakistan, while Country Director Emma Fan represented the Asian Development Bank.
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According to the official statement, the primary objective of this program is to enhance resource efficiency through structural reforms, a key area of focus under Pakistan’s broader economic recovery and stabilization efforts.
“This partnership with ADB reflects the international community’s confidence in Pakistan’s reform agenda and its potential to achieve sustainable economic growth,” said the spokesperson.
A day earlier, the ADB had approved the $800 million financing package for Pakistan to help shore up the country’s external reserves, following a five-day delay in the board meeting initially scheduled for last week.
