ADB to provide loan of additional financing of $200m

Asian Development Bank will provide a loan of additional financing of 200 million dollars to Pakistan for social protection development project.

Secretary Economic Affairs Division Noor Ahmed and Country Director ADB Ms. Xiaohong Yang signed the loan agreement in Islamabad today (Friday).

Minister for Economic Affairs Muhammad Hammad Azhar witnessed the signing ceremony.

Social Protection Development will provide a financial cushion to the population that is below the poverty line and is vulnerable to economic shocks, by scaling up unconditional cash transfers.

The project will also provide support to BISP to directly impact the root causes of poverty such as poor health and education.

Source: Radio Pakistan