ADB Endorses USD800M Initiative to Stabilize Pakistan’s Economy
(MENAFN) The Asian Development Bank (ADB) announced Tuesday the approval of an $800 million initiative aimed at enhancing Pakistan’s fiscal sustainability and strengthening public financial management.
The package, titled the Improved Resource Mobilization and Utilization Reform Program, Subprogram 2, consists of a $300 million policy-based loan and the ADB’s inaugural policy-based guarantee of up to $500 million. That guarantee is expected to leverage as much as $1 billion in financing from commercial banks.
According to the ADB, the program drives substantial reforms targeting improvements in tax policy, administration, and compliance, while also optimizing public spending and cash flow management.
Additionally, the initiative promotes digital transformation, eases investment processes, and supports private sector growth, the bank stated.
"These measures aim to reduce Pakistan's fiscal deficit and public debt while creating space for social and development spending," the bank said.
The ADB emphasized that the effort is supported by a broad assistance package, which includes technical aid and coordinated efforts with development partners, to help Pakistan achieve long-term fiscal resilience and economic stability.
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