Pakistan to receive $7 billion from international financial institution

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Pakistan to receive $7 billion from international financial institution

ISLAMABAD - Asian Development Bank (ADB) Vice President Shixin Chen has announced loan worth $7 billion for Pakistan for next 5 years.

He is on his first official two-day visit to Pakistan, met Prime Minister Imran Khan and "reaffirmed ADB’s support for Pakistan’s development priorities", a press statement link issued by the bank said on Friday.

The meeting, held on Thursday, was also attended by other ADB and government officials.

The press statement revealed that ADB plans to provide $7 billion to Pakistan for "various development projects and policy-based programmes" over the next three years.