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ADB approves $250 million loan for Pakistan

02:41 PM | 5 Jun, 2024
ADB approves $250 million loan for Pakistan
Source: File Photo

MANILA, PHILIPPINES — The Asian Development Bank (ADB) has approved a $250 million policy-based loan to help Pakistan drive sustainable investments in infrastructure and services through public–private partnerships (PPPs).

ADB’s Promoting Sustainable Public–Private Partnerships Program supports implementation of government policies to create an enabling environment for fiscally affordable PPPs and promote inclusive economic growth.

“This program is part of our comprehensive and integrated package of public sector management support that balances the country’s fiscal consolidation and growth objectives,” said ADB Director General for Central and West Asia Yevgeniy Zhukov. “The program will help the Government of Pakistan create an environment that is conducive to strategic, fiscally affordable PPPs that will bring the country closer to its development goals.”

ADB’s program supports reforms that will increase the absorptive capacity of PPP infrastructure investments by creating a more robust and integrated legal and institutional framework for public investment management and public financial management for PPPs.

The program supports implementation of an integrated PPP policy. The reforms will facilitate efficient infrastructure planning and promote sustainable development practices in infrastructure projects, such as climate risk screening and gender considerations in project feasibility assessments and PPP contracts.

“Mobilizing private finance through PPPs can help to bridge the financing gap in public sector infrastructure projects—which is vital,” said ADB Economist Sana Masood. “This program will help ensure PPPs in Pakistan are structured correctly and implemented effectively in order to deliver more efficiency, innovation, and value for money.”

A $700,000 technical assistance grant is financing the program’s preparation and implementation. In December 2023, an additional $950,000 was approved by ADB to support PPP pipeline identification, capacity building, and sector strategy development.

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Today Currency Rates in Pakistan - Rupee to US Dollar, Euro, Pound, Dirham, Riyal - 24 July 2024

Pakistani rupee rates against US Dollar and other currencies on July 24, 2024 (Wednesday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 278.4 for buying and 280.1 for selling. Euro's buying rate remains stable at 301.35 and selling rate is 303.45.

British Pound rate is 354.5 for buying, and 358.35 for selling. UAE Dirham AED was at 76.5 and Saudi Riyal hovered at 73.6.

Currency Rates Today

Currency Symbol Buying Selling
US Dollar USD 278.4  280.1 
Euro EUR 301.35 303.45
UK Pound Sterling GBP 354.5 358.35
U.A.E Dirham AED 76.5  77.25
Saudi Riyal SAR 73.60 74.32
Australian Dollar AUD 184.75 186.55
Bahrain Dinar BHD 741.15 749.15
Canadian Dollar CAD 203.50 205.50
China Yuan CNY 38.35 38.75
Danish Krone DKK 40.05 40.45
Hong Kong Dollar HKD 35.70 36.05
Indian Rupee INR 36.05 36.05
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 908.25 917.35
Malaysian Ringgit MYR 58.95 59.75
New Zealand Dollar NZD 169.24 171.24
Norwegians Krone NOK 26.04 26.34
Omani Riyal OMR 722.87 730.89
Qatari Riyal QAR 76.39 77.09
Singapore Dollar SGD 202.00 204.00
Swedish Korona SEK 26.40 26.70
Swiss Franc CHF 309.05 311.55
Thai Bhat THB 7.50 7.65

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