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Business

APP
October 9, 2019

Asian Development Bank says will provide $2.5 billion financing to Pakistan

Business

APP
Wed, Oct 09, 2019

ISLAMABAD: The Asian Development Bank (ADB) will provide $2.5 billion in approved financing to Pakistan in 2019, it said in a tweet on Wednesday.

“ADB will provide $2.5 billion in approved financing to Pakistan in 2019, and recently approved Country Operations Business Plan (COBP) 2020-2022 will increase average lending to $2.4 billion a year - a record increase over the $1.4 billion average from 2015 to 2018," the bank said.

In addition, ADB will leverage lending through the mobilization of co-financing and funding from other sources, including regional concessional resources.

The new COBP will support Pakistan’s development goals and complement efforts by other development partners, it added.