Pakistan Secures $330 Million Social Protection Loan from ADB

There is important new financial news in Pakistan from the Asian Development Bank (ADB): Integrated Social Protection Development Program (ISPDP) Additional Financing $330 million loan agreement signed recently. Signed on Saturday by Secretary of Economic Affairs Dr.Kazim Niaz and ADB Country Director Emma Fan, the deal is meant to enhance and extend the range of the social protection schemes under the stipend program Benazir Income Support Programme (BISP).

It aims at developing institutional capacity with a focus ID for education and; health services with special attention to women, girls, and children, especially those from poor backgrounds. The milestones underscore ADB Country Director Emma Fan’s assurance of the bank’s continued assistance towards the realization of government aspirations on promoting inclusive growth, poverty eradication, skills, and health care provision to the needy.

Speaking at the signing ceremony the Economic Affairs Secretary called for more concessional lending to help respond to the social protection needs of countries. Currently, the programme strengthens AADB-supported activities in Pakistan which could indicate continuous cooperation in social development projects.