*ISLAMABAD – The Asian Development Bank is all set to give $3.4 billion inbudgetary support to Pakistan, confirmed Finance Adviser Dr Abdul HafeezShaikh on Saturday.*
He said in a post on his Twitter account that the agreement was finalisedbetween Pakistan and ADB after his meeting today with ADB DG Werner Liepach.
The first installment of the funds will be released in the first quarter oftis fiscal year, Dr Shaikh said. It will be an amount of $2.2 billion.
Dr Shaikh says this will “help the revenue and external account position”.
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The support, he said, is in addition to the project portfolio with anestimated disbursement of upto $1 billion in the coming years. “Iappreciate the commitment of the ADB to our economic reform agenda, DrShaikh tweeted.
