ISLAMABAD, May 13: The Asian Development Bank (ADB) has indicated providing $2.5 billion in additional loans to Pakistan for the fiscal year 2022-23, ARY News reported on Friday.
According to Finance Ministry statement, $1.5 billion to $2 billion could be available in the ongoing calendar year.
“The ADB indicated the additional support of $2.5 billion for the next fiscal year, from which $1.5 billion to $2 billion can be available in the ongoing calendar year”, according to a statement issued by the Ministry of Finance. The statement was issued after Minister of State for Finance and Revenue Dr. Aisha Ghous Pasha held a meeting with Country Director ADB, Mr. Yong Ye.
She acknowledged the all-weather and trusted partnership of ADB with Pakistan, especially in the areas of energy, education, and fiscal & debt management.
She said: “Pakistan is facing various fiscal and monetary challenges but the present government is keenly working on various structural reform measures to bring back the economy on an inclusive and sustainable growth path.”
While concluding, Dr. Aisha Ghous Pasha thanked Mr. Yong Ye and his team for their dedication and assured them of full support and speedy implementation of the ongoing programs.
It is worth mentioning here that the coalition government, led by PM Shehbaz Sharif, is facing several economic challenges since coming into power in April 2022 after Imran Khan was dethroned as Pakistan PM through a no-confidence motion.-TLTP