Times of Islamabad

Pakistan Foreign Exchange reserves to witness 1 billion rise

Pakistan Foreign Exchange reserves to witness 1 billion rise

ISLAMABAD – Asian Development Bank (ADB) will provide a loan of 1.3 billiondollars to Pakistan to help stabilize the foreign exchange reserves of thecountry.

An agreement to this effect was signed in Islamabad on Monday.

Minister for Economic Affairs Hammad Azhar was also present on theoccasion.

Three-hundred million dollars have been earmarked for reforms in the energysector and financial stability.