Good tidings for the country’s economy as the Asian Development Bank on Friday approved a $1.5 billion loan for Pakistan, reported 24NewsHD TV channel.
The ADB is providing these funds for the purpose of social and food security under the Building Resilience with Active Countercyclical Expenditure (BRACE) programme.
The funds will be utilized to eliminate poverty and create job opportunities for people across the country.
The loan will be disbursed next week which will also help Pakistan to boost its dwindling foreign reserves.
It is also reported that the Asian Infrastructure Investment Bank (AIIB) is likely to approve co-financing of $500 million, making the total disbursement $2 billion within the ongoing month.
Reporter Waqas Azeem