Asian Development Bank approved a big loan for Pakistan

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Asian Development Bank approved a big loan for Pakistan

ISLAMABAD - Asian Development Bank approved a big loan for Pakistan poverty alleviation Programme.

The Asian Development Bank (ADB) on Monday approved a $200 million loan as additional financing to support the Benazir Income Support Programme (BISP).

A press statement link issued by the Manila-based lending agency noted that an ADB-financed Social Protection Development Project, approved in 2013, had enabled the enrollment of over 855,000 beneficiaries of the BISP.

“The additional financing would continue to support cash transfers as well as help BISP implement institutional strengthening measures,” said ADB Central and West Asia Director (Public Management) Tariq Niazi.

“Social protection programmes like the BISP are crucial to ensure that the poorest segments of the population do not go further into poverty, especially at a time when the country is facing difficult macroeconomic challenges.”