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ADB to provide $1.7b to Pakistan this year

SAMAA | - Posted: Apr 24, 2020 | Last Updated: 5 months ago
SAMAA |
Posted: Apr 24, 2020 | Last Updated: 5 months ago
ADB to provide $1.7b to Pakistan this year

The $300 million loan will help boost Pakistan's response to the coronavius pandemic. Photo: AFP FILE

The Asian Development Bank will provide $1.7 billion in financial assistance to Pakistan this year, according to the Economic Affairs Division.

ADB officials assured of providing the amount at a virtual meeting with Economic Affairs Minister Khusro Bakhtiar on Friday.

The regional financial institution will provide $800 million budgetary support by June 2020, according to the Economic Affairs Division.

The remaining $900 million will be given by December 2020. The ADB will provide this amount on concessional terms.

Pakistan will spend these billion funds on dealing with the coronavirus pandemic.

Bakhtiar thanked the ADB for agreeing to provide assistance to the country.

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