ADB Extended A Record $2.4 Billion Of Loans For Development To Pakistan In 2019
In the year 2019, the Asian Development Bank (ADB) has given Pakistan a record level of development assistance, at $2.4 billion.
Project-based lending accounted for $634 million. Some of the projects that the ADB financed in 2019 include a Bus Rapid Transit (BRT) for Karachi, the Water Resources Project in Punjab, the Cities Improvement Project in Khyber Pakhtunkwa, the Jalalpur Irrigation Project and work on the Trimmu, Panjnad and Islam barrages.
$1 billion was budget support, as part of an effort to strengthen the country’s financial stability in a difficult situation. A further $500 million went into boosting the competitiveness of the country’s exports. Around $200 million went towards social spending to help some of the most economically marginalized segments of the population under the Benazir Income Support Programme (BISP).
ADB lending for 2019 also had a significant focus on roads, as well as the energy and educational sectors.