ADB to provide up to US$ 2.5 Billion under flood relief support to Pakistan this month: Country Director
The Asian Development Band (ADB) will provide flood relief support to Pakistan to the tune of US$ 2.3 to 2.5 billion including US$ 1.5 billion for the BRACE program which will be placed before the ADB Board for approval during this month, Country Director ADB for Pakistan Yong Ye told Finance Minister Senator Mohammad Ishaq…
Adil Aziz
ADB to mobilize over $2 Billion to support Pakistan’s post-flood relief measures
The Asian Development Bank (ADB) will approve funding of over US$2 billion to support Pakistan’s post-flood relief and resilience activities by end of current year, ADB Director General for Central and West Asia Eugene Zhukov told a virtual press conference from Manila on Thursday. Expressing sympathies and grief over the huge devastation caused by the…
ADB approves $100 million to improve secondary healthcare in KPK
The Asian Development Bank (ADB) has approved a $100 million results-based loan to help strengthen the quality of secondary health care in Khyber Pakhtunkhwa province in Pakistan. The program will help improve the delivery of health services at secondary hospitals by modernizing infrastructure and equipment; ensuring clinical protocols, standards, and guidelines are implemented; and improving…
Economy to slow to 3.5% in FY2023 amid strong climate headwinds: ADB
The recent devastating floods in Pakistan add profound risk to the country’s economic outlook,” said ADB Country Director for Pakistan Yong Ye :Pakistan’s economy is forecast to slow to 3.5 percent in fiscal year 2023 amid devastating floods, policy tightening, and critical efforts to tackle sizable fiscal and external imbalances, the Asian Development Bank (ADB)…
ADB provides quick relief package to help flood-victims
The Asian Development Bank (ADB) has been working quickly to provide a significant package of relief and rehabilitation to the flood-affected people, the bank said in a tweet Tuesday. The package is designed to support people, livelihoods, and infrastructure immediately and in the long-term. On short and medium-term basis, the bank would use ongoing projects…
ADB’s ongoing sovereign portfolio in Pakistan includes 48 loans worth $8.42 Billion
The ongoing sovereign portfolio of Asian Development Bank (ADB) in Pakistan includes 48 loans and three grands worth of $8.42 billion. According to the member fact sheet released by the ADB, in 2021, ADB’s loan and grant disbursements to Pakistan amounted to $1.31 billion, comprising $0.3 billion in program lending and $1.01 billion from project…
Pakistan needs enhanced financing for natural disasters: ADB
Pakistan urgently needs to enhance the current disaster risk finance approach as risk retention mechanisms are insufficient to cover the losses associated with even the most frequent of flood and earthquake events, Asian Development Bank. The report titled “Narrowing the Disaster Risk Protection Gap in Central Asia” said the private insurance solutions for the natural…
Structural reforms a prime focus of government: Miftah
Federal Minister for Finance, Miftah Ismail said here on Thursday that the government was primarily focusing on effective structural reforms for cultivation of sustainable and inclusive economic growth in the country. During a meeting with Asian Development Bank’s Ex-Country Director and Chief Thematic Officer in ADB’s Sustainable Development and Climate Change Department, Ms. Xiaohong Yang,…
ADB indicates additional support of $2.5 Billion in upcoming fiscal year
The Asian Development Bank (ADB) here on Thursday indicated to provide additional support of $ 2.5 billion to Pakistan for the next fiscal year, out of which $1.5-2 billion could be available in the ongoing calendar year, finance ministry said. According to statement issued by finance ministry, Minister of State for Finance and Revenue Dr….
ADB, LDC sign $100 million loan to support smallholder farmer livelihoods, climate resilience
The Asian Development Bank (ADB) and Louis Dreyfus Company B.V. (LDC) Thursday signed a loan of up to $100 million to help smallholder farmers recover from the economic challenges caused by the coronavirus disease (COVID-19) pandemic and improve their resilience to climate change impacts. The loan will support LDC’s operations in India, Indonesia, Pakistan, Thailand,…