Islamabad: The Asian Development Bank (ADB) Tuesday approved a $300 millionloan to further develop Pakistan’s capital markets, promote privateinvestment in the country, and help to mobilize domestic resources tofinance sustainable growth.
The second subprogram of ADB’s Third Capital Market Development Programbuilds on institutional and regulatory reforms put in place under the firstsubprogram approved in 2020.
“For several years ADB has been Pakistan’s lead development partner insupporting the evolution of its capital markets,” said ADB Director Generalfor Central and West Asia Yevgeniy Zhukov. “By making the country’s capitalmarkets more robust and strengthening government debt management, this newprogram will also help to mobilize more domestic resources which supportthe government’s efforts to finance sustainable growth and respondeffectively to crises.”
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The ADB said it was committed to achieving a prosperous, inclusive,resilient, and sustainable Asia and the Pacific while sustaining itsefforts to eradicate extreme poverty.
