Islamabad (TDI): Pakistan is expected to receive $2.75 billion in budget support from the Asian Development Bank (ADB) over the next four years, with an initial disbursement of $800 million anticipated in FY 2024-2025, a report said.
In addition, annual funding of $650 million is expected for fiscal years 2025-26 through 2027-28.
The recent $7 billion IMF loan approval has renewed confidence among international financial institutions, paving way for additional funding to the country.
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Other foreign financiers or lenders, including the Saudi Oil Facility and Dubai Islamic Bank, have pledged $3.2 billion in loans for Pakistan, easing the government’s financial challenges.
The ADB has already approved a $320 million loan for the Khyber Pakhtunkhwa Rural Roads Development Project, aimed at improving connectivity in rural flood-hit areas.
This boost comes amid Pakistan’s intensified efforts to secure international financing, reinforcing positive market sentiment and the prospect of sustainable economic growth, according to Pakistan Today’s Profit Magazine.
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The Asian Development Bank (ADB) is set to provide Pakistan with a loan of $500 million to support its environmental and disaster resilience programme, daily The Express Tribune reported last week.
It has also committed committed over $41 billion in loans, grants, and technical assistance to Pakistan.
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