ISLAMABAD: The Asian Development Bank (ADB) disbursed loans and grants amounting to $1.31 billion to Pakistan in 2021, comprising $0.30bn in programme lending, $1.01bn from project lending and $3 million from grants.
Total outstanding balances and undisbursed commitments of ADB’s non-sovereign transactions in Pakistan as of Dec 31, 2021 was $441.31m, representing 3.14 per cent of ADB’s total private sector portfolio, the fact sheet on Pakistan says.
According to the ADB annual report released on Monday, ADB committed $22.8bn from its own resources in 2021 to help Asia and the Pacific tackle the immediate effects of the Covid-19 pandemic and promote a green recovery.
The $22.8bn committed in 2021 includes loans and guarantees, grants, equity investments, and technical assistance provided to governments and the private sector. In addition, ADB mobilised $12.9bn in co-financing.
Under the country’s partnership strategy 2021–2025, ADB will support Pakistan’s development priorities by focusing on improving economic management, building resilience, and boosting competitiveness and private sector development.
ADB’s assistance for domestic resource mobilisation, financial inclusion, and energy sector reforms will support macroeconomic management. Financing for workforce readiness and health will help build resilience. Support for infrastructure and urban sector investments will improve rural connectivity and urban municipal services. Improving access to finance and supporting public-private partnerships will boost competitiveness and private sector development to return the economy to a sustainable growth trajectory.
ADB will also help the country prepare for digital transformation through policy improvements, public institution strengthening, and relevant infrastructure investments.
Published in Dawn, April 26th, 2022
