Islamabad: The Asian Development Bank signed a $1.2 billion loan agreement with Pakistan, the ADB officials confirmed on Wednesday.
The agreement comprises funding for budget financing and projects focused on domestic resource mobilisation, while a total of six projects will work towards making women financially independent.
At least one-third of the funds will be disbursed as budget financing and make way for jammed financing pipelines following a deal with the International Monetary Fund (IMF).
The Economic Affairs Division (EAD) and ADB signed the loan agreements last Friday.
The agreement and highlighted that ADB will allocate $400 million from the total fund for budget support via two different agreements.
