ISLAMABAD: Pakistan signed financial agreements worth $1,500 million with three international financial institutions on Friday.
Prime Minister Imran Khan witnessed the signing ceremony with three international financial institutions, the World Bank, Asian Development Bank and Asian Infrastructure Development Bank.
The Secretary at the Ministry of Economic Affairs Noor Ahmed signed the three loan agreements on behalf of the government of Pakistan while the Country Director at World Bank Patchamuthu Illangovan and the Country Director at ADB Xiaohong Yang signed agreements on behalf of the World Bank, Asian Development Bank, and Asian Infrastructure Investment Bank.
The funds will be disbursed to Pakistan in the next few days. The funds will be used for Coronavirus Active Response and Expenditure Support Program with the objective to support the government’s efforts to strengthen the health system and mitigate socioeconomic impacts of the COVID-19 pandemic.
The amount will also be utilized to strengthen the Civil Registration & Vital Statistics, health and education systems essential for Human Capital (HC) accumulation, recognize and support the contribution of women to economic productivity and improve the efficiency of the national safety nets.
