ADB to provide $2.7 billion to Pakistan in 2019
MG News | October 09, 2019 at 01:32 PM GMT+05:00
October 9, 2019 (MLN): The Asian Development Bank is set to provide $2.7 billion in approved financing to Pakistan in Fiscal Year 2019.
As per the announcement made on twitter by ADB, the recently approved Country Operations Business Plan (COBP) 2020-2022 will increase the average lending to $2.4 billion a year - a record increase over the $1.4 billion average from 2015 to 2018.
In addition, ADB will leverage its lending through the mobilization of co-financing and funding from other sources, including regional concessional resources.
The new COBP will support Pakistan’s development goals and complement efforts by other development partners.
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