World Bank, Asian Development Bank approve millions of dollar loans for Pakistan

The World Bank and Asian Development Bank (ADB) have approved big loans for Pakistan.

Asian Development Bank

Pakistan and the Asian Development Bank signed a $250 million policy-based loan agreement to promote sustainable infrastructure and services through Public-Private Partnerships (PPPs).

The agreement also aims to develop post-flood infrastructure, emphasizing climate resilience and gender considerations in project planning.

A technical assistance grant of $700,000 was allocated for program implementation, with an additional $950,000 approved for PPP pipeline development and capacity building.

World Bank

The World Bank has approved loans of $535 million for Pakistan, focused on two key areas: the Crisis Resilient Social Protection (CRISP) Programme and the Sindh Livestock and Aquaculture Sectors Transformation Project.

The CRISP Programme includes a $400 million loan to improve security schemes, particularly through the Benazir Income Support Programme (BISP), to build resilience among vulnerable households against economic and climate shocks.

The World Bank defends criticism against BISP by stressing the need to strengthen social protection despite increasing poverty rates exacerbated by recent economic challenges and climate shocks.

Additionally, the World Bank approved $135 million for the Sindh Livestock and Aquaculture Sectors Transformation Project, which targets climate-smart practices and enhances competitiveness among small and medium producers in Sindh. This initiative aims to benefit over 940,000 farm families, strongly emphasising gender inclusivity and provincial capacity building.