Islamabad: In the fiscal year (FY) 2020-2021, the Asia Development Bank (ADB) disbursed a total of USD 1.31 billion to Pakistan in the form of loans and grants, news sources reported. As of December 31, 2021, ADB has USD 441.3 million in outstanding balance and undisbursed funds to Pakistan, representing 3.14% of the overall private sector portfolio.
The Asian Development Bank (ADB) committed a total of USD 22.8 billion to assist Asia and the Pacific in dealing with the immediate effects of the Covid-19, including loans and guarantees, grants, equity investments, and technical assistance to governments and the private sector, according to a report released on Monday (April 25).
Aside from the USD 22.8 billion, the ADB also mobilised USD 12.9 billion in co-financing. ADB designed a loan and grant programme for Pakistan to help with economic management, resilience, competitiveness, and private sector growth. This comprised funds for rural-urban connectivity infrastructure, healthcare infrastructure development, macroeconomic management, digital transformation through policy changes, public institution strengthening, and associated infrastructure investments.
It is also worth noting that the IMF proposed a special drawing rights (SDR) effort for both developing and developed countries in order to mitigate the adverse economic effects of COVID-19.
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