The government of Pakistan and the Asian Development Bank (ADB) signed a $700 million Policy-Based Loan (PBL) agreement for the Insurance Transformation Program (ITP), Sub-Program 1 (SP 1), including $250 million on concessional terms. Secretary, Economic Affairs Division Muhammad Humair Karim Kidwai expressed appreciation for ADB’s role as a trusted development partner and its continued […]
ADB
ADB approves $700mn loan for Pakistan’s insurance sector
The Asian Development Bank (ADB) approved a US$ 700 million policy-based loan to support reforms aimed at strengthening insurance in Pakistan. The program seeks to expand insurance coverage and reduce protection gaps and the loan would help stimulate private sector participation and support sustainable economic growth. The Insurance Transformation Program will strengthen Pakistan’s financial resilience […]
Pakistan, ADB agree to timely completion of ML-1 documentation, other formalities
Pakistan and the Asian Development Bank (ADB) on Friday agreed to ensure timely completion of documentation and other formalities for the ML-1 Karachi-Rohri section to accelerate implementation of the strategically important railway project. Minister for Economic Affairs Ahad Cheema chaired a high-level meeting to review the implementation framework of the ML-1 Karachi-Rohri section and discuss […]
ADB launches $70bn push to connect Asia’s power grids, digital networks
The Asian Development Bank (ADB) will back $70 billion in new energy and digital infrastructure initiatives by 2035, aiming to connect power grids, expand cross-border electricity trade, and improve broadband access across Asia and the Pacific. “Energy and digital access will define the region’s future,” said ADB President Masato Kanda, according to ADB press release […]
ADB boosts Pakistan engagement to $3.67bn
The Asian Development Bank (ADB) has significantly expanded its financial commitments to Pakistan in 2025, approving $3.672 billion in support – a 22 percent increase compared to $2.995 billion in 2024. The rise reflects the bank’s growing involvement in new sectors, including mineral resource development and education. According to ADB’s Annual Report 2025, the institution […]
ADB forecasts Pakistan growth uptick, flags risks from Mideast war
Pakistan is expected to sustain its economic performance in the medium term as manufacturing recovers and investment increases, but the country faces “significant” risks due to global economic uncertainty, the Asian Development Bank (ADB) said on Friday. Pakistan’s economy recovered as growth strengthened and inflation declined in fiscal year (FY) 2025, which ended on June […]
ADB warns risks persist despite Pakistan’s economic recovery
ISLAMABAD: The Asian Development Bank (ADB) has said that while Pakistan’s economy is showing signs of gradual recovery, significant risks continue to threaten long-term stability. Read More: ADB backs Pakistan solar power reforms In its latest report on Pakistan’s economic outlook, the ADB noted that macroeconomic conditions are improving, but external and internal vulnerabilities remain a […]
ADB unveils Pakistan strategy for 2026-2030
The Asian Development Bank (ADB) on Wednesday launched a new country partnership strategy (CPS) for Pakistan, 2026-2030, setting out a roadmap to support the country’s transition to sustainable and inclusive growth through private sector-led development. The five-year strategy will focus on three pathways: enabling private sector development, advancing inclusion and empowerment, and enhancing resilience and […]
ADB warns $360m highway loan may lapse without action
ISLAMABAD: The Asian Development Bank (ADB) has warned that a $360 million loan for the Central Asia Regional Economic Cooperation (CAREC) Corridor Development Investment Programme’s Tranche III could lapse next year if the project is not expedited. The loan, intended for widening sections of the N55 Highway, has faced significant delays due to controversies in […]
Condolences pour in over death of former SBP governor Dr Shamshad Akhtar
The State Bank of Pakistan (SBP) has expressed deep sorrow and grief over the passing of its former governor, Dr Shamshad Akhtar, paying tribute to her distinguished career and lasting contributions to public service. Read More: Dr Shamshad appointed chairperson of PSX board In an official statement, the Board of Management and staff of the central […]