ADB approves $180 million loan for Pakistan


ADB

ISLAMABAD: The Asian Development Bank approved a loan of $180 million for multiple development schemes in Pakistan on Tuesday.

The money has been earmarked for schemes to provide clean water in Rawalpindi and manage solid waste in Bahawalpur.

Reports said that the schemes will benefit 1.5 million people.

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Pakistan expects to receive almost $2 billion from the multiple international lenders including the ADB over the next month.

The money will take Pakistan’s forex reserves to $9 billion.

Falling foreign exchange reserves have been a continuous challenge for Pakistan leading to the country turning to international lenders as well as ‘friendly’ countries for debt or debt rollovers to keep the economy afloat.

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