The Asian Development Bank (ADB) has indicated an additional loan of $ 2.5 billion to cash-starved Pakistan. According to Pakistan’s Ministry of Finance, ADB has indicated additional support of $ 2.5 billion for the next fiscal year.
Out of this, loans ranging from $1.5 billion to $2 billion can be provided in the current calendar year itself.
ADB said that Pakistan, which is facing cash crunch, will be helped by the end of this year. Pakistan is in dire need of foreign aid due to rapidly depleting foreign exchange reserves, increasing debt repayment pressure and import financing requirements.
Pakistani newspaper ‘The Express Tribune’ said in a report on Friday that the Ministry of Finance gave this information after a meeting between Minister of State for Finance and Revenue Ayesha Ghaus Pasha and ADB’s Country Director Yong Ye.