ADB to provide $2.75bn budget support in four years

Sources say Islamabad is likely to receive $800 million in budget support from ADB this fiscal year

By Rana Ghulam Qadir
|
October 28, 2024
Asian Development Bank (ADB) can be seen written on the building in Ortigas City, Philippines. — AFP/File

ISLAMABAD: After receiving a new loan programme of $7 billion from the IMF, the way for funds from other international financial institutions has also been paved.

Pakistan is likely to receive $2.75 billion in budget support from the Asian Development Bank (ADB) over four years. According to government sources, Pakistan is likely to receive $800 million in budget support from the Asian Development Bank (ADB) this fiscal year, while it is estimated that Pakistan will receive $650 million of annual budget support from the ADB during the next three fiscal years.

According to sources, Pakistan is expected to receive $650 million in budget support from the Asian Development Bank every year from fiscal year 2025-26 to fiscal year 2027-28. After this, other international financial institutions have shown their confidence in Pakistan, which gives Pakistan better financing prospects in the coming years.