ADB approves US$ 500 million to help Pakistan enhance its exports

ISLAMABAD, Pakistan: The Asian Development Bank (ADB) Board on Wednesday approved the release of US$ 500 million for Pakistan to support its incumbent government’s reform agenda for improving trade competitiveness to enhance exports, the Federal Minister for Economic Affairs Muhammad Hammad Azhar said.

In a tweet, Hammad Azhar said that the proceeds of this facility will boost Pakistan’s foreign exchange reserve built up and give much needed budgetary support to the government.

Hammad Azhar further said that more significantly, budgetary support program from a long term development partner i.e ADB has been restored after a gap of more than two years.

“I am thankful to ADB and its President for their support and reposing confidence in the present government’s reform agenda,” the federal minister said.