Pakistan Secures $500 Million ADB Loan for Climate Protection Initiatives

Finance Minister Muhammad Aurangzeb has expressed appreciation to the Asian Development Bank (ADB) for approving a $500 million loan to support climate protection efforts in Pakistan.

Meeting with ADB President Masatsugu Asakawa in Washington, Aurangzeb praised the bank’s continuous support for Pakistan’s development, particularly in bolstering disaster safety measures.

The discussion also focused on strategies for increasing Pakistan’s revenues, enhancing regional cooperation, and expediting the completion of the ADB office in Islamabad. Aurangzeb expressed optimism for the swift implementation of the ADB’s country partnership framework.

The ADB board will review Pakistan’s request for further funding in a meeting scheduled for October 29.