Asian Development Bank cuts FY2027 growth forecast, warns of higher inflation from energy costs
ISLAMABAD: The Asian Development Bank (ADB) on Thursday said Pakistan’s economy grew 3.7% in fiscal year 2025-26 (FY2026), driven by strong expansion in the industrial and services sectors and modest growth in agriculture, while lowering its growth forecast for the current fiscal year due to rising energy costs and external uncertainties.
(more…)Loan to Support Insurance Reforms and Financial Resilience
ISLAMABAD: The Asian Development Bank (ADB) has approved a US$700 million policy-based loan to support structural reforms in Pakistan’s insurance sector, aiming to broaden coverage, strengthen financial protection and deepen capital markets.
(more…)Islamabad, December 31, 2024 – The Asian Development Bank (ADB) and the Government of Pakistan signed a $200 million loan agreement on Tuesday aimed at enhancing the country’s electricity distribution system.
(more…)The Asian Development Bank (ADB) has approved a $200 million loan to support Pakistan in modernizing its power distribution infrastructure and enhancing the capacity of distribution companies to provide reliable electricity.
(more…)Islamabad, November 19, 2024 – Pakistan and the Asian Development Bank (ADB) formalized a $500 million loan agreement on Tuesday under the Climate and Disaster Resilience Enhancement Program (CDREP), signaling a significant step toward addressing the country’s climate challenges and disaster vulnerabilities.
(more…)Islamabad, September 13, 2024 – The Asian Development Bank (ADB) has approved a loan of $320 million to support the rehabilitation and development of roads in the province of Khyber Pakhtunkhwa (KP), Pakistan. This investment aims to improve safe, all-weather connectivity for rural areas, enhancing access to essential services such as education, healthcare, and markets.
(more…)The Asian Development Bank (ADB) has greenlit a loan of $148.5 million aimed at bolstering the electric distribution system and improving the resilience of the electricity supply in Sikkim, India.
(more…)Karachi, May 2, 2024 – A delegation from the Asian Development Bank (ADB) met with the leadership of the Federal Board of Revenue (FBR) on Thursday to discuss the progress of the Domestic Resource Mobilization Program (DRM).
(more…)Karachi, April 11, 2024 – A recent report by the Asian Development Bank (ADB) has highlighted a stark reality: three out of every five women in Pakistan are excluded from the banking system, representing one of the lowest financial inclusion rates for women globally.
(more…)Islamabad, April 11, 2024 – The Asian Development Bank (ADB) has released its flagship Asian Development Outlook (ADO), forecasting a GDP growth rate of 1.9 percent for Pakistan during the fiscal year 2023-24.
(more…)