Pakistan gets $1 billion from World Bank, ADB to fight COVID-19

05:14 PM | 24 Jun, 2020
Pakistan gets $1 billion from World Bank, ADB to fight COVID-19
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KARACHI – The State Bank of Pakistan (SBP) on Wednesday said it has received $1billion - $500 million each from World Bank (WB) and Asian Development Bank (ADB) – for its fight against coronavirus.

The $500 million loan was announced by ADB earlier this month, in order to help the country's coronavirus health and economic response and "protect poor" citizens.

In a statement earlier, the ADB said the loan would help the Pakistani government "deliver social protection programs to the poor and vulnerable, expand health sector capabilities, and deliver a pro-poor fiscal stimulus to boost growth and create jobs as the country fights the novel coronavirus disease (COVID-19) pandemic.”