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
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.