The Asian Development Bank (ADB) has forecasted that the scaling up of the Ehsas Program will result in broader economic recovery of Pakistan. According to the details, in its latest report, ADB said the COVID-19 impact will subside by the end of 2020—the end of the second quarter of FY2021—allowing global conditions to normalize and … Read more
The Asian Development Bank (ADB) has decided to issue a 20 crore equivalent bond for Pakistan. The bond will be issued in Pakistani rupees, said ADB. According to details, the Asian Development Bank (ADB) has decided to issue the bonds to support the local currency operations. [embedpost slug=”pakistan-receives-1-billion-loan-from-adb-world-bank-to-fight-covid-19/”] On the other hand, the bonds will … Read more
The coronavirus disease (COVID-19) pandemic has triggered a massive disruption of labour markets that have had disproportionate impacts on youth employment. Asian Development Bank (ADB) in its latest report titled “Tackling the COVID-19 Youth Employment Crisis in Asia and the Pacific” said that more than 2.3 million youths in Pakistan could be unemployed in case … Read more
The Asian Development Bank (ADB) has warned that Global remittances will fall by 108.6 billion dollars if the Covid-19 economic impact persists throughout the year A Recent report by ADB said Remittance receipts in Asia and the Pacific will fall by 54.3 billion dollars, equivalent to 19.8 percent of remittances in 2018. By sub-region, remittances in … Read more
The Asian Development Bank (ADB) and the World Bank has given by $1 billion to Pakistan on Wednesday (Jun 24). According to the details, Pakistan has received $500 million each from the Asian Development Bank (ADB) and the World Bank after which $1 billion has been increased in the foreign exchange reserves of the country. … Read more
The Asian Development Bank (ADB) has predicted that next fiscal year, Pakistan’s inflation rate will be higher than other countries in the region. According to details, the Asian Development Bank (ADB) has released the Asian Development Outlook Supplementary Report. According to a report released by the ADB, Pakistan’s economic growth is expected to be 2% … Read more
PM Imran Khan has said that we cannot stop the spread of coronavirus and we knew that when the lockdown would open and the virus would spread. According to details, PM Imran Khan while addressing the volunteers of Corona Relief Tiger Force said that the lockdown is not possible in Coronavirus, other countries are opening … Read more
The Asian Development Bank (ADB) will give another $305 million on Tuesday to Pakistan in loans to fight against coronavirus pandemic. According to the details, the government has approved concept clearance paper for seeking a loan from ADB for emergency struggling against COVID-19 pandemic on Wednesday (May 6). The meeting of the committee was held … Read more
The Asian Development Bank (ADB) today approved a $200 million loan to support the Philippine government’s effort to provide emergency cash subsidies to vulnerable households amid the novel coronavirus disease (COVID-19) pandemic. “This global pandemic, of a kind not seen in the last century, has disrupted the livelihoods of millions of Filipinos and could set … Read more
The Government of the People’s Republic China (PRC) has earmarked a total amount of $10 million in its Poverty Reduction and Regional Cooperation Fund to support the Asian Development Bank (ADB) in assisting its developing member countries (DMCs) to address their novel coronavirus disease (COVID-19) challenges. The funds will provide support to a broad range … Read more
The Asian Development Bank is increasing the amount of disbursing loans three times to developing member countries in Asia. Media reports said the amount will increased to $20 billion to help countries in combat against the deadly coronavirus. President of Asian Development Bank Masatsugu Asakawa, said ADB adding $13.5 billion to the initial $6.5 billion … Read more
Asian Development Bank (ADB) has announced $20 billion rescue package to assist developing countries of Asia in their fight against coronavirus pandemic. According to the details, ADB said “it is tripling the size of its rescue package in the region for their immediate responses to contain the spread of COVID-19.” Earlier in March, Asian Development … Read more
Asian Development Bank (ADB) to immediately release $50 million for Pakistan in an effort tofend off the deadly coronavirus. ADB to approve an immediate grant of $50 million for Pakistan amidst COVID-19 crisis. An official statement by the global money lending body said that the grant will exclusively given to the country’s National Disaster Management … Read more
The Asian Development Bank (ADB) warned that coronavirus outbreak is set to trim global and developing Asia’s economic growth this year. Reuters has reported that outbreak could cut global gross domestic product by 0.1 to 0.4%. While economic growth in China and developing Asia, excluding China, could trimmed by 0.3 to 1.7% and 0.2 to 0.5%, … Read more
The Asian Development Bank (ADB) has approved a further $2 million to help developing countries in Asia and the Pacific contain the outbreak of the novel coronavirus (COVID-19) and improve resilience to this and other communicable diseases. The funds will be available for all ADB developing member countries in updating and implementing their pandemic response … Read more
President of Asian Development Bank Masatsugu Asakawa called on Prime Minister Imran Khan on the sidelines of at World Economic Forum 2020 in Davos. According tomthe details, Advisor on Finance Dr. Abdul Hafeez Sheikh, Governor State Bank of Pakistan Raza Baqir, Ambassador at large on investments Ali Jehangir Siddiqui were also present. Meanwhile, Advisor on … Read more
The Asian Development Bank (ADB) on Tuesday said Pakistan is moving towards economic stability and the economy will perform better during the ongoing fiscal year 2019-20. The ADB, in its Asian Development Outlook 2019 Supplement, said that inflation in Pakistan for the first three months of the ongoing fiscal year averaged 10.1 per cent despite … Read more
The State Bank of Pakistan (SBP) has received $1.2 billion from the Asian Development Bank (ADB) under the budget support fund. According to the details, SBP on its official twitter handle confirmed the transfer of the loan amount to Pakistan. #SBP receives #USD 1.2 bn from #AsianDevelopmentBank | @ADB_HQ #Pakistan — SBP (@StateBank_Pak) December 9, … Read more
The Pakistan’s economy seems to be stepping out of trouble and heading towards stability. From the stock market to the currency market and the current account deficit, international credit rating agencies are all talking about economic stability of Pakistan. The rupee strengthened against the dollar and reached at five-month high. Currency dealers are expecting to … Read more
Asian Development Bank has approved $1.3 billion budgetary support loan for Pakistan, including $1 billion in crisis response facility. It is the first time in Pakistan’s history that any govt availed crisis response facility to repay its foreign debt n build Forex reserves. Commenting on the loan, ADB Director General for Central and West Asia … Read more
Masatsugu Asakawa has been unanimously elected President of the Asian Development Bank (ADB) by its Board of Governors. According to a media release by ADB, Mr. Asakawa, 61, currently, Special Advisor to Japan’s Prime Minister and Minister of Finance, will assume office as ADB’s 10th President on 17 January 2020. He will succeed Takehiko Nakao, … Read more
Federal Minister for Economic Affairs Hammad Azhar has said that the World Bank has restored Budgetary Support to Pakistan on account of strengthening of economic stability. According to details in a message posted on social networking website Twitter, he said that the World Bank has taken a decision due to the strengthening of Pakistan’s economy. … Read more
Pakistan has received $500 million from Asian Development Bank (ADB). According to State Bank of Pakistan the central reserves have received $530 million after which State Bank reserves have increased from $8 billion. Commercial banks currently have total reserves of $7 billion. Total foreign currency reserves have increased to $15 billion currently in the country. … Read more
