ISLAMABAD: The Asian Development Bank on Friday approved two loans totaling $1.3 billion for budgetary support and key reforms in Pakistan.The ADB approved $1 billion in immediate budgetary support to Pakistan to “shore up the country’s public finances” and help strengthen a “slowing economy”, said a statement released by the bank.
The bank said it approved the financing after the government implemented a series of IMF-supported reforms and actions to improve its current account deficit, strengthen its revenue base, and protect the poor against the social impact of the economic crisis. In another loan, the ADB approved a $300 million policy-based loan that will help the government to address financial sustainability, governance, and energy infrastructure policy constraints in the energy sector.
“The cash shortfall across the power supply chain in Pakistan, also known as circular debt, has shot up to more than $10 billion and is a longstanding chronic issue ailing the country’s power sector,” said Liepach.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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