ADB to Approve USD500M Pakistan Budget Support

The Asian Development Bank is due to approve a USD500 million budgetary support to Pakistan. According to The Express Tribune, the bank’s executive board will vote on Pakistan’s request Aug. 27.

The ADB funding forms part of the Accelerated Economic Transformation Program, approved in September 2008, the newspaper adds.

ADB was scheduled to approve the budgetary support in May 2010 but deferred the decision due to the Pakistani government’s failure to provide a comprehensive financing plan to rid the inter-corporate debt of state-run companies.

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    Chiden Balmes

    Chiden, a correspondent based in Seoul, focuses on computer-assisted reporting to provide international development professionals with practical business and career information. He also contributes to the Development Newswire and the Global Development Briefing, two of the world's highest-circulation development publications.

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