ISLAMABAD: Pakistan will secure loans worth $600 million in the next 10 days from the Asian Development Bank (ADB) to cushion its foreign currency reserves which started depleting again on the back of heavy debt repayments.
The Manila-based lending agency would approve two policy loans, each amounting to $300 million, under the second and third tranches of the Public Sector Enterprises (PSEs) Reforms and Sustainable Energy Sector Reforms, respectively, said sources in the finance ministry.
The first loan will be approved on Thursday for the energy sector followed by another on June 22 for the PSE reforms, they said.