ADB gives crisis-hit Pakistan $1.5 billion loan
Asian Development Bank extends aid as extensive floods add to major economic problems
The Asian Development Bank approved $1.5 billion in credit for Pakistan today (October 21). The loan will support Pakistan’s “counter-cyclical development expenditure package” to provide welfare services and support longer-term reforms.
The ADB’s director-general for central and west Asia, Yevgeniy Zhukov, said the aid would help Pakistan’s government deal with several problems. He said the country was suffering from massive floods, high prices, rising food insecurity, falling business activity
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