Pakistan to get a huge financial package worth $7.1 billion from Asian Development Bank

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Pakistan to get a huge financial package worth $7.1 billion from Asian Development Bank

ISLAMABAD – The Asian Development Bank (ADB) Sunday has announced a huge investment package for Pakistan.

As per the media report, ADB announced a $7.1-billion financial package for Pakistan, saying it would help the country “achieve inclusive and sustainable growth” over the next three years.

“ADB plans to significantly increase the country’s sovereign operations to $7.1bn over three years,” Wencai Zhang, vice president of the Manila-based lender, said in a statement.

“Along with its continued focus on energy, infrastructure development, and institutional reforms, ADB is also re-engaging in education and health, and social safety net through income support programme.”

Zhang said the financial package was planned under a country partnership strategy for 2018-2020. He also appreciated the Pakistan Tehreek-e-Insaf (PTI) government’s 100 Days Agenda.

Zhang had met a high-level delegation including Finance Minister Asad Umar, Planning Minister Khusro Bakhtiar, Education Minister Shafqat Mehmood, and Adviser to Prime Minister on Institutional Reforms Dr Ishrat Hussain during his two days visit to Pakistan.