Islamabad (TDI): Pakistan has inked a loan deal with the Asian Development Bank (ADB) for the Integrated Social Protection Development Program (ISPDP) Additional Financing, amounting to $330 million.
The deal builds on the ongoing ADB-funded program for boosting and expanding social protection systems in Pakistan through the Benazir Income Support Programme (BISP).
The agreement was inked by Dr. Kazim Niaz, Secretary Economic Affairs, and Emma Fan, ADB Country Director. fr
In his remarks, Kazim Niaz highlighted the significance of this additional financing from concessional lending for boosting institutional capacity and improving access to education and healthcare particularly among adolescent girls, women and children from low-income families.
He expressed gratitude for the bank’s continued support in this regard.
Also Read: Pakistan, ADB Vow to Enhance Cooperation on Climate Change
The Country Director, ADB reaffirmed the Bank’s commitment to backing Pakistan’s objectives in further strengthening social safety nets.
She said that this additional loan will support in meeting the program goals of achieving inclusive growth, healthcare access and poverty alleviation skills for vulnerable populations.
Also Read: ADB Grants $300M for Pakistan Welfare Program
The new loan deal marks a major step forward in improving social protection systems in Pakistan.
