Major ADB program worth $8 billion approved for Pakistan

The Asian Development Bank (ADB) has approved an $800 million financial package for Pakistan to strengthen fiscal sustainability and improve public financial management

According to a statement released by the Philippines-based lender, the Asian  Development Bank (ADB) approved a $800 million program in Pakistan to strengthen fiscal sustainability and improve public financial management.

“This programme underpins the government’s ongoing commitment to implementing comprehensive policy and institutional reforms, which are essential for enhancing fiscal transparency, improving governance, and ensuring sustainable economic development.”

“Pakistan has made significant progress in improving macroeconomics conditions,” said ADB country director for Pakistan, Emma Fan.

Emma Fan (ADB’s country director for Pakistan) suggests that Pakistan has taken effective steps to stabilize or enhance its economic fundamentals. 

This programme supports the government’s commitment to continue important policy and institutional reforms. These reforms aim to improve the country’s financial stability and support long-term economic growth. The programme includes major changes to make tax rules fairer, improve the way taxes are collected, and ensure people follow tax laws. It also helps the government. 

The programme is supported by a complete assistance package, which includes expert guidance and strong cooperation with international development partners. This support is aimed at helping Pakistan achieve long-term financial strength and economic stability, the statement added. Pend money more effectively and manage its finances better.