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Pakistan

Web Desk
June 17, 2019

ADB to lend Pakistan $3.4b for budgetary support: Shaikh

ISLAMABAD: Out of total $3.4 billion commitment of the ADB through restoration of budgetary...

ADB refutes Pakistan’s claim of $3.4 billion budgetary support

Pakistan

Web Desk
Mon, Jun 17, 2019

ISLAMABAD: Asian Development Bank (ADB) has distanced itself from Pakistan government’s claims of lending $3.4 billion loan to Pakistan in budgetary support.

ADB’s country director for Pakistan Xiaohong Yang said in a statement “These discussions are ongoing and the details of the plans as well as the volume of the ADB’s financial support, once finalised, will be contingent upon the approval of the ADB management and its board of directors.”

In a series of tweets on Saturday, Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh had said “ADB to give $3.4 billion in budgetary support. I had a meeting with Mr. Werner Liepach, DG ADB today to agree on the program.”

He said “The ADB will provide $3.4 billion in budgetary support to help with reforms and stabilization of the economy.”