Pakistan, India Obtain ADB Funding

The Asian Development Bank approved two loans totalling $500 million for Pakistan, Dow Jones reported. The loans comprise $150 million for the cash transfer initiative called Benazir Income Support Program and a further $350 million for a social safety net program. Meanwhile, five northeast states in India secured $200 million from the Manila-based lender to improve urban infrastructure such as water supply and sanitation. These include Shillong, Aizwal, Kohima, Gangtok and Agartala, according to the Press Trust of India.

About the author

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    Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.