Wednesday , October 16 2019
Breaking News
Home / Islamabad / ADB to provide $2.7b in approved financing to Pakistan in 2019
ADB to provide $2.7b in approved financing to Pakistan in 2019

ADB to provide $2.7b in approved financing to Pakistan in 2019

ISLAMABAD: Taking to the social networking website Twitter, the international development finance institution, Asian development bank (ADB) announced the provision of $2.7 billion in approved financing to Pakistan in 2019, according to media on Wednesday.

Foreign investors’ confidence over the economy of the country was restored to a large extent after approval of a bailout package by the International Monetary Fund (IMF) for Pakistan, a previous ADB report had read.

The international money lender tweeted: “ADB to provide $2.7 billion in approved financing to Pakistan in 2019, and recently approved Country Operations Business Plan (COBP) 2020-2022 will increase average lending to $2.4 billion a year – a record increase over the $1.4 billion average from 2015 to 2018.”

In a tweet Asian Development Bank said “ADB to provide $2.7 billion in approved financing to Pakistan in 2019, and recently approved Country Operations Business Plan (COBP) 2020-2022 will increase average lending to $2.4 billion a year – a record increase over the $1.4 billion average from 2015 to 2018.” 1/2.

Another tweet on the matter read: “In addition, ADB will leverage our lending through the mobilization of co-financing and funding from other sources, including regional concessional resources. The new COBP will support Pakistan’s development goals and complement efforts by other development partners.”

2/ 2 “In addition, ADB will leverage our lending through the mobilization of co-financing and funding from other sources, including regional concessional resources. The new COBP will support Pakistan’s development goals and complement efforts by other development partners.”