Thursday, May 19, 2022

ADB authorises $300 million loan for Pakistani capital markets

Asian Development Bank had authorised a $300 million loan in order to boost private investment and mobilise local resources for long-term development.

Continuing the institutional and regulatory reforms that were made in 2020, the Asian Development Bank has launched the Third Capital Market Development Program (CMDP).

According to Yevgeniy Zhukov, Director General of the Asian Development Bank for Central and West Asia, “the Asian Development Bank has been assisting Pakistan’s capital market development for many years.” This new programme, according to the minister, will assist in mobilising additional domestic resources to support the government’s efforts to finance sustainable growth while also responding efficiently to emergencies.

Along with attempts to reduce severe poverty, the Asian Development Bank set a stated goal of creating an Asia and Pacific region that was inclusive, resilient, and sustainable.

Read more: Fawad claims Pakistan is leading the Muslim Ummah at the OIC Moot

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