ADB approves $0.5m for EXIM Bank

Published September 30, 2018
Asian Development Bank. ─ File
Asian Development Bank. ─ File

ISLAMABAD: The government has sought assistance from the Asian Development Bank (ADB) to operationalise EXIM Bank of Pakistan which will provide much-needed trade financing facilities to help exporters trade competitively, Dawn learnt on Saturday.

Responding to a request of the Ministry of Finance, the ADB president has approved technical assistance worth $0.5 million on a grant basis for promoting investments and economic growth through international trade. A document released by the ADB revealed that Pakistan is likely to ask ADB to capitalise Exim Bank in the future.

Under the assistance plan, ADB will formulate a business plan that articulates EXIM Bank of Pakistan’s short- and medium-term objectives and strategies. Based on a market assessment, the plan will focus on supporting key sectors and industries that will benefit from the service offering and will contribute significantly to the country’s export diversity and economic growth.

Standard documentation on various product offerings and corresponding operational policies and manuals will also be developed.

Published in Dawn, September 30th, 2018

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Judiciary’s SOS
Updated 28 Mar, 2024

Judiciary’s SOS

The ball is now in CJP Isa’s court, and he will feel pressure to take action.
Data protection
28 Mar, 2024

Data protection

WHAT do we want? Data protection laws. When do we want them? Immediately. Without delay, if we are to prevent ...
Selling humans
28 Mar, 2024

Selling humans

HUMAN traders feed off economic distress; they peddle promises of a better life to the impoverished who, mired in...
New terror wave
Updated 27 Mar, 2024

New terror wave

The time has come for decisive government action against militancy.
Development costs
27 Mar, 2024

Development costs

A HEFTY escalation of 30pc in the cost of ongoing federal development schemes is one of the many decisions where the...
Aitchison controversy
Updated 27 Mar, 2024

Aitchison controversy

It is hoped that higher authorities realise that politics and nepotism have no place in schools.