Business

Asian Development Bank to lend $10bn to Pakistan

By Web Desk, BOL News

08th July, 2019

Asian Development Bank (ADB) has announced to lend $10bn to Pakistan in next five years.

According to the details, ADB in next five years will provide loans up to $10bn to Pakistan which will be used in various developmental projects in the country.

A meeting was held between the two party delegates. Pakistan was represented by Special Assistant to prime minister on Petroleum Nadeem Babar and Secretary economic affairs Noor Ahmad. On behalf of ADB senior advisor Muhammad Ahsan Khan and country director for Pakistan Xiaohong Yang attended the meeting.

Pakistan and ADB have collaborated since 1966. According to the new deal, both partners will work together till 2024. Pakistan has received $32bn till now from ADB.


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