ISLAMABAD – Pakistan on Friday signed three financing agreements worth $1500 million with the World Bank, Asian Development Bank and the Asian Infrastructure Development Bank for anti-COVID response besides strengthening health and education systems.
Prime Minister Imran Khan also witnessed the signing ceremony held here, said a PM Office press release.
Under the agreement for COVID-19 Active Response and Expenditure Support Program (CARES), the ADB would extend financial support of US$500 million with the objective to support Government of Pakistan’s efforts to strengthen the health system and mitigate socioeconomic impacts of the COVID-19 pandemic.
The AIIB would extend co-financing of US$500 million for the Covid-19 Active Response and Expenditure Support Program (CARES) to augment the Government’s efforts to mitigate the direct and indirect impacts of COVID-19 pandemic.
The third agreement titled “Securing Human Investments to Foster Transformation (SHIFT) worth US$500 million aims at strengthening the civil registration and vital statistics, health and education systems essential for Human Capital (HC) accumulation. It will also help recognize and support the contribution of women to economic productivity and improve efficiency of the national safety nets.
Secretary, Ministry of Economic Affairs Noor Ahmed signed the three loan agreements on behalf of Government of Pakistan while Country Director World Bank Patchamuthu Illangovan, Country Director ADB Ms. Xiaohong Yang signed agreements on behalf of the WB, ADB, and AIIB.
The disbursement of US$1,500 million will be made to Pakistan in next few days.
Pakistani rupee remained stable against US dollar, and other currencies in the open market amid strong economic cues.
On Sunday, the US dollar was being quoted at 285.15 for buying and 287.95 for selling.
Euro moves down to 309.9 for buying and 310.5 for selling. British Pound rate stands at 359.4 for buying, and 360.05 for selling.
UAE Dirham AED also moved down to 77.45 whereas the Saudi Riyal drops to 75.82.
|UK Pound Sterling||GBP||359.4||360.05|
|Hong Kong Dollar||HKD||36.38||36.48|
|New Zealand Dollar||NZD||173.44||175.44|
The price of gold increased by thousands of rupees due to an upward trend in the international market.
On Sunday, the price of a single tola of 24-karat gold stands at Rs219,800 and 10 grams of 24k gold costs Rs188,450.
Meanwhile, single tola of 22 Karat gold costs Rs201,482, 21 karat rate costs Rs192,325 and 18k gold rate is Rs164,850.
Globally, gold prices hover at around $2072, gaining $32 on Sunday.
|Lahore||PKR 219,800||PKR 2,730|
|Karachi||PKR 219,800||PKR 2,730|
|Islamabad||PKR 219,800||PKR 2,730|
|Peshawar||PKR 219,800||PKR 2,730|
|Quetta||PKR 219,800||PKR 2,730|
|Sialkot||PKR 219,800||PKR 2,730|
|Attock||PKR 219,800||PKR 2,730|
|Gujranwala||PKR 219,800||PKR 2,730|
|Jehlum||PKR 219,800||PKR 2,730|
|Multan||PKR 219,800||PKR 2,730|
|Bahawalpur||PKR 219,800||PKR 2,730|
|Gujrat||PKR 219,800||PKR 2,730|
|Nawabshah||PKR 219,800||PKR 2,730|
|Chakwal||PKR 219,800||PKR 2,730|
|Hyderabad||PKR 219,800||PKR 2,730|
|Nowshehra||PKR 219,800||PKR 2,730|
|Sargodha||PKR 219,800||PKR 2,730|
|Faisalabad||PKR 219,800||PKR 2,730|
|Mirpur||PKR 219,800||PKR 2,730|