Tag: Asian Development Bank
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World Bank, Asian Development Bank approve millions of dollar loans for Pakistan
The World Bank and Asian Development Bank (ADB) have approved big loans for Pakistan. Asian Development Bank Pakistan and the Asian Development Bank signed a $250 million policy-based loan agreement to promote sustainable infrastructure and services through Public-Private Partnerships (PPPs). The agreement also aims to develop post-flood infrastructure, emphasizing climate resilience and gender considerations in…
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Pakistan plans to secure $4.5 billion from diverse sources in current fiscal year
Caretaker Minister for Finance, Dr Shamshad Akhtar, has outlined Pakistan’s financial projections for the current fiscal year (2023–24), highlighting an anticipated mobilisation of approximately $4.5 billion from both multilateral and bilateral sources, excluding the International Monetary Fund (IMF).
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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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Govt plans to increase gas and electricity prices in January
The interim Finance Minister, Dr Shamshad Akhtar, announced during a press conference that the caretaker government is planning to increase electricity and gas tariffs in January to address the circular debt issue, in line with the International Monetary Fund’s (IMF) Stand-By Arrangement (SBA).
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Pakistan ‘least prepared country’ for digital education
Among the developing member countries of the Asian Development Bank (ADB), Pakistan ranks as the least prepared nation for digital education, according to the ADB’s report titled “Towards Mature Digital Education Ecosystems, the Digital Education Readiness Framework.”
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IMF spokesperson urges fair taxation and protection for vulnerable in Pakistan
The International Monetary Fund (IMF) has emphasised that its $3 billion Standby Arrangement (SBA) programme with Pakistan serves as a critical policy framework. This framework addresses both domestic and international economic imbalances while also facilitating financial support from various donors, including the refinancing of outstanding debts.
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Slow economic growth and inflation challenges persist in Pakistan: ADB Outlook Report
During the last fiscal year, Pakistan faced the twin challenges of low economic growth and high inflation, in contrast to other South Asian countries.
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APCC likely to propose Rs900-1,000 billion macroeconomic framework for budget 2023-24
The Annual Plan Coordination Committee (APCC) is poised to recommend a substantial macroeconomic framework and the size of the federal development outlay amounting to approximately Rs900-1,000 billion for the fiscal year 2023-24. This recommendation comes ahead of the upcoming budget and is expected to shape the economic policies and priorities of the country for the…
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ADB recommends targeted subsidies and tax reforms for Pakistan’s economic recovery
The Asian Development Bank (ADB) has recommended that Pakistan implement targeted subsidies to alleviate inflationary pressures and improve the tax-to-GDP ratio in order to emerge from the current state of economic uncertainty.
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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…