ISLAMABAD: The Government of Pakistan and the Asian Development Bank (ADB) have signed a loan agreement worth $330 million under the “Integrated Social Protection Development Program – Additional Financing.” This initiative builds upon the ongoing ADB-funded program aimed at strengthening and expanding Pakistan’s social protection systems through the Benazir Income Support Programme (BISP).
The agreement was formalized by Dr. Kazim Niaz, Secretary of Economic Affairs, and Emma Fan, ADB’s Country Director for Pakistan.
Dr. Kazim Niaz emphasized the significance of this concessional financing in enhancing institutional capacity and improving access to education and healthcare, particularly for women, adolescent girls, and children from low-income families. He expressed gratitude to ADB for its sustained support in fostering Pakistan’s social safety nets.
Emma Fan reiterated ADB’s commitment to supporting Pakistan’s efforts in achieving inclusive growth and poverty reduction. She noted that the additional financing would contribute to key program objectives, including skills development and improving healthcare access for vulnerable populations.
The signing of this agreement represents a pivotal step toward strengthening Pakistan’s social protection systems and advancing the well-being of its most disadvantaged communities.
