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ADB to issue 20 crore bond for Pakistan

Muhammad UsmanMultimedia Journalist

26th Aug, 2020. 06:46 pm
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The Asian Development Bank (ADB) has decided to issue a 20 crore equivalent bond for Pakistan. The bond will be issued in Pakistani rupees, said ADB.

According to details, the Asian Development Bank (ADB) has decided to issue the bonds to support the local currency operations.

On the other hand, the bonds will also boost Pakistan’s capital market. ADB revealed that the government of Pakistan has also approved the issuance of the bonds.

It is pertinent to mention here that earlier in June, Pakistan had received $500 million each from the Asian Development Bank (ADB) to fight against the coronavirus and the World Bank after which $1 billion had been increased in the foreign exchange reserves of the country.

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