The Asian Development Bank (ADB) has committed $2.75 billion in budget support for Pakistan over the coming four years, providing a significant boost to the country’s financial stability. This assistance includes $800 million allocated for the fiscal year 2024-2025, with an additional $650 million each year for the following three fiscal years.
Backing Builds Following IMF Agreement
Support from ADB follows Pakistan’s recent $7 billion IMF arrangement
This commitment from the ADB follows Pakistan’s $7 billion loan agreement with the International Monetary Fund (IMF), which has helped open doors to additional funding from international bodies. The ADB’s support reflects a positive outlook on Pakistan’s economic recovery trajectory.
Additional Pledges Reinforce Financial Support
Pakistan secures $3.2 billion in further pledges from international creditors
Beyond ADB’s backing, Pakistan has secured $3.2 billion in pledges from global creditors, including a $1.2 billion loan facility from Saudi Arabia. These funds come at a crucial time as Prime Minister Shehbaz Sharif’s government addresses significant economic challenges, signaling international confidence in Pakistan’s recovery path.
Final Day for 2024 Income Tax Return Filing, FBR Confirms No Further Extension
In addition to budget support, the Asian Development Bank (ADB) has provided a $320 million loan to aid infrastructure projects in Pakistan, focusing on the rehabilitation of rural roads in Khyber Pakhtunkhwa. This project aims to improve connectivity and resilience in regions vulnerable to flooding.
Pakistan Pursues Economic Stabilization with Global Partnerships
Collaborations with international financial institutions focus on fiscal recovery
As Pakistan deepens its collaboration with global financial bodies, it is working toward economic stabilization and aims to strengthen its fiscal health in the years ahead.
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