ISLAMABAD, Dec 21 (Express Tribune): Pakistan and the Asian Development Bank (ADB) have signed six loan agreements worth $1.2 billion, with one-third of it to be disbursed as budget financing, reopening choked financing pipelines after reaching a deal with the International Monetary Fund (IMF).
The loan agreements were signed by the Economic Affairs Division (EAD) and the local office of the ADB on Friday. A spokesperson of the EAD confirmed to The Express Tribune that $1.2 billion in loan agreements with the ADB have been inked.
Of the $1.2 billion, ADB will provide $400 million in budget support under two different deals, said the officials.
Pakistan, ADB ink $1.2b loan deals
FE Team | Published: December 22, 2023 00:04:16
Pakistan, ADB ink $1.2b loan deals
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