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.

Also Read

Pakistan receives $1 billion loan from ADB, World Bank to fight COVID-19

The Asian Development Bank (ADB) and the World Bank has given by...

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.

Also Read

Worst is not Over: Global remittances to fall by $108.6 bn, warns ADB

The Asian Development Bank (ADB) has warned that Global remittances will fall by...