Asian Development Bank assures to provide $1.7bn to Pakistan

Pakistan and ADB sign $2 million grant agreement

Asian Development Bank assures to provide $1.7bn to Pakistan.


The ADB has assured to provide 1.7 billion dollars to Pakistan to fight the impacts of coronavirus.

President of the bank gave this assurance during a virtual meeting with Minister for Economic Affairs Khusro Bakhtiar.

Asian Development Bank assures

The bank will approve 800 million dollars budget support by June this year.

It will provide the next tranche of nine hundred million dollars by the end of this year.

The budget support will be provided to Pakistan on special concessionary basis.

The Minister for Economic Affairs thanked the Asian Development Bank for extending the financial cooperation to Pakistan.

Meanwhile, Pakistan received $1.39bn under IMF Rapid Financing Instrument.

State Bank of Pakistan confirmed it in a tweet.

International Monetary Fund has introduced RFI mechanism to help countries amid Coronavirus threat.

Earlier, Prime Minister had appreciated debt relief measures by G20, IMF and WB for developing countries, including Pakistan.

He appreciated debt relief measures which G-20 countries, IMF and World Bank adopted for developing countries, including Pakistan.

Prime Minister Imran Khan said while talking to Finance Advisor Dr Abdul Hafeez Shaikh in Islamabad on Thursday.

Sheikh informed the Prime Minister about the planned approval of an additional $ 1.4 billion concessionary financing from IMF.

The IMF approved it to help Pakistan deal with economic impact of coronavirus.

He also updated the Prime Minister about the progress on various components of Economic Stimulus Package announced by the government.

Meanwhile, IMF Resident Representative in Pakistan Teresa Daban Sanchez called on Foreign Minister Shah Mahmood Qureshi.


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