According to the Ministry of Economic Affairs spokeswoman, Pakistan and the Asian Development Bank (ADB) have inked a significant financial aid agreement of $800 million to bolster the nation’s continued economic reforms and improve the use of its fiscal resources.
The government of Pakistan and ADB have formally signed a $300 million loan deal as part of the package. The support package now has a total value of $800 million after the ADB also extended a $500 million policy-based guarantee.
Dr. Kazim Niaz, the secretary of the Economic Affairs Division, signed the deal on behalf of the Pakistani government, while Emma Fan, the country director, signed it on behalf of the Asian Development Bank.
