ISLAMABAD: The Asian Development Bank (ADB) authorized a $300 million loan on Tuesday to assist Pakistan in further strengthening its capital markets, attracting private investment, and mobilizing domestic resources to fund sustainable development.
The second subprogram of the ADB’s Third Capital Market Development Program builds on the institutional and regulatory changes implemented in 2020 under the first subprogram.
“For many years, ADB has been Pakistan’s primary development partner, assisting the country’s capital markets in their progress,” said ADB Director General for Central and West Asia Yevgeniy Zhukov. “By improving the country’s financial markets and enhancing government debt management, this new initiative will also assist the government in mobilizing more domestic resources to fund sustainable development and react effectively to crises.”
The ADB said that it was dedicated to establishing a prosperous, inclusive, resilient, and sustainable Asia and Pacific region, while also pursuing its goal of eradicating extreme poverty.
