ISLAMABAD, Pakistan: The Asian Development Bank (ADB) Board on Wednesday approved the release of US$ 500 million for Pakistan to support its incumbent government’s reform agenda for improving trade competitiveness to enhance exports, the Federal Minister for Economic Affairs Muhammad Hammad Azhar said.
In a tweet, Hammad Azhar said that the proceeds of this facility will boost Pakistan’s foreign exchange reserve built up and give much needed budgetary support to the government.
Hammad Azhar further said that more significantly, budgetary support program from a long term development partner i.e ADB has been restored after a gap of more than two years.
“I am thankful to ADB and its President for their support and reposing confidence in the present government’s reform agenda,” the federal minister said.
The ADB Board today approved release of USD 500 million to support the present govt’s reform agenda for improving Trade Competitiveness to enhance exports. Proceeds of this facility will boost FX reserve built up & give much needed budgetary support to Government of Pakistan. 1/2
— Hammad Azhar (@Hammad_Azhar) August 7, 2019
More significantly, budgetary support program from a long term development partner i.e ADB has been restored after a gap of more than 2 years. I am thankful to ADB and it’s President for their support and reposing confidence in the present Govt’s reform agenda.
— Hammad Azhar (@Hammad_Azhar) August 7, 2019
