Tag: ADB
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Finance Minister Aurangzeb promises economic reforms in meeting with ADB
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has reaffirmed the government’s commitment to implementing its reform agenda and meeting structural benchmarks to lend permanence to macroeconomic stability, promote inclusive, sustainable growth and end Pakistan’s reliance on external borrowing.
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ADB approves $400 million loan to rebuild Sindh’s flood-damaged homes, infrastructure
The Asian Development Bank (ADB) has granted Pakistan a $400 million concessional loan to aid in the reconstruction of homes and infrastructure in Sindh province, heavily impacted by the 2022 floods. The funds will be used for the Sindh Emergency Housing Reconstruction Project, which aims to repair flood-damaged houses and community facilities while boosting livelihood…
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ADB approves $250 million loan to upgrade Pakistan’s power transmission system
The Asian Development Bank (ADB) has granted a $250 million loan to Pakistan to enhance the country’s power transmission system, addressing persistent electricity shortages.
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ADB approves $554 million for Pakistan flood victims
The Asian Development Bank (ADB) has approved a $554 million financing package for Pakistan flood victims. The financing, which includes a $475 million loan and a $3 million technical assistance grant from the Asian Development Bank (ADB), and a $5 million grant from the Government of Japan, will support the restoration of irrigation, drainage, flood…
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ADB set to approve $1.5 billion loan for Pakistan today
A $1.5 billion programme loan for Pakistan is slated to be approved by the Asian Development Bank (ADB) on Friday (today) as part of the BRACE (Building Resilience with Active Countercyclical Expenditure) programme. According to Geo, the Board of the ADB will meet in Manila to discuss whether to approve a $1.5 billion programme loan…
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ADB to provide up to $2.5 billion under flood relief support to Pakistan
The Asian Development Bank (ADB) announced on Wednesday that it would provide support of $2.3–2.5 billion for relief efforts in the wake of disastrous floods that have left Pakistan severely damaged. The declaration was made during a meeting between Pakistan’s ADB Country Director Yong Ye and Finance Minister Ishaq Dar, as per a press release…
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Pakistan’s GDP likely to decrease to 2% in FY23 as flood damage may cost $30 billion
Syed Zafar Ali Shah, Secretary of the Ministry of Planning, Development, and Special Initiatives, stated on Thursday that a preliminary estimate indicated that the GDP growth rate may remain at two percent in the current fiscal year and that the estimated cost of damage repair, including reconstruction, may be $30 billion as a result of…