Pakistan signs $2.7bn loan with ADB

MG News | December 15, 2022 at 01:32 PM GMT+05:00

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December 15, 2022 (MLN): Pakistan signed a total of $2.7 billion in loans with the Asian Development Bank (ADB) in 2022, Federal Minister for Economic Affairs Sardar Ayaz Sadiq said.

“Minister for Economic Affairs Ayaz Sadiq and ADB DG Yevgeniy Zhukov witnessed the signing of 5 loans worth $772.6 million by Sec EAD Kazim Niaz and ADB DCD Asad Aleem for flood reconstruction, skill development, power transmission, irrigated agriculture projects across Pakistan”, ADB Pakistan informed while taking its official twitter handle.

Recently, on December 14, 2022, the ADB approved a $100mn loan to improve Technical and Vocational Education and Training (TVET) in Punjab province in Pakistan.

Moreover, on December 12 2022, ADB has also approved $554mn for Pakistan under Flood Assistance Packages to support the restoration activities after the devastating floods recorded during this year.

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