Pakistan to Receive USD750 Million from World Bank, ADB

The World Bank and Asian Development Bank will provide a total of USD750 million worth of loans for Pakistan, the Express Tribune reports.  

Talks have started between Pakistan and the World Bank on a USD350 million aid to execute the Poverty Reduction Strategy Paper II. But in order to secure the loan, Pakistan has to raise electricity tariffs by June 30, the newspaper says.

Meanwhile, negotiations for the release of USD400 million for economic reforms with the Asian Development Bank will start on May 26.

About the author

  • 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.