ISLAMABAD: The Asian Development Bank (ADB) has announced an additional $330 million in financial assistance for Pakistan’s social protection program.

The support aims to strengthen the country’s efforts to uplift vulnerable communities, especially women and their families.

According to the ADB, this expanded initiative will benefit around 9.3 million individuals across Pakistan. The primary focus will be on low-income households, enabling them to access essential services and resources for a better quality of life.

An ADB spokesperson stated that the new funding will enhance support for household-level poverty targeting. The program will also provide conditional cash transfers to children and adults to support their continued education.

In disaster-affected areas, the program will work to improve access to healthcare services and nutrition, particularly for women, adolescent girls, and children.

The ADB further noted that Central and West Asia continue to experience development disparities and social welfare challenges. Countries like Afghanistan, Kyrgyzstan, and Pakistan face high levels of poverty and ongoing difficulties in accessing essential public services.

This financial assistance is part of ADB’s ongoing commitment to promoting inclusive and equitable development in the region.

On the other hand, Federal Finance Minister Mohammed Aurangzeb met with Asian Development Bank President Masato Kanda, requesting to assist in providing partial credit guarantee for the issuance of Panda bond.