Pakistan to receive $3bn from World Bank, other lenders

News Image

MG News | November 16, 2023 at 11:27 PM GMT+05:00

0:00

November 16, 2023 (MLN): Pakistan is set to receive $2 billion from the World Bank, and a cumulative $1bn from the Asian Development Bank (ADB), Islamic Development Bank (IDB), and Asian Infrastructure Investment Bank (AIB), caretaker finance minister Dr Shamshad Akhtar stated while addressing the media on Thursday.

To note, Pakistan got initial approval from the International Monetary Fund (IMF) yesterday for the release of the next loan tranche under the current $3bn loan program.

Pending approval by the IMF's Executive Board, the agreement will grant Pakistan access to SDR 528m, which is around $700m.

This is expected to serve as a catalyst for subsequent contributions from other global lenders.

Dr Shamshad Akhtar stated that despite challenges, the Pakistani economy has displayed signs of improvement, and the government is actively working to further enhance economic conditions. She emphasized the importance of remaining in the IMF program.

Accordingly, the government's top priority is to successfully complete the $3bn program, she said.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 138,412.25
167.69M
0.32%
447.43
ALLSHR 85,702.96
423.92M
0.15%
131.52
KSE30 42,254.84
82.09M
0.43%
180.24
KMI30 194,109.59
84.37M
0.15%
281.36
KMIALLSHR 56,713.67
217.03M
0.03%
16.37
BKTi 37,831.34
13.04M
1.62%
603.62
OGTi 27,440.63
3.93M
-0.09%
-23.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,835.00 119,440.00
118,145.00
540.00
0.46%
BRENT CRUDE 72.72 73.17
71.75
0.21
0.29%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 69.41 69.79
68.45
0.20
0.29%
SUGAR #11 WORLD 16.43 16.58
16.37
-0.16
-0.96%

Chart of the Day


Latest News
July 30, 2025 at 05:54 PM GMT+05:00

Pakistan BCI decreased by 1.2 points in July


July 30, 2025 at 05:17 PM GMT+05:00

Pakistan consumer confidence falls to 40.1 points in July


July 30, 2025 at 05:03 PM GMT+05:00

PKR rises by 10 paisa against USD


July 30, 2025 at 04:11 PM GMT+05:00

PSX Closing Bell: You Can’t Always Get What You Want



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg