ADB to provide $5.4bn loan to Pakistan

224

The Asian Development Bank (ADB) will provide a loan of $5.4 billion to Pakistan over the next three years.

The ADB, in its 5-year Country Partnership Strategy, said that Pakistan’s economy could be affected by the coronavirus.

According to the bank, the coronavirus is likely to increase poverty and unemployment.

A loan of $3.6 billion will be provided by the Asian Development Bank for routine operations.

In addition, a concessional loan of  $1.8 billion will be given to Pakistan, along with an additional grant of 50. 5 million.