ADB approves more than $750 million for Pakistan

Islamabad: The Asian Development Bank (ADB) approved a loan of 758 million dollars for Pakistan.

According to ADB, a loan of 758 million dollars has been approved for Pakistan which will be spent on three different projects, while the purpose of providing funds is to achieve the goal of sustainable economic development.

Asian Development Bank stated that the funds will be spent on increasing local resources and rehabilitating flood-damaged schools.

The funds will also increase agricultural production for food security and help Pakistan recover from the recent devastating flood crisis.

According to the statement, ADB's objective is to improve the economic situation of Pakistan and improve the quality of life of the people, of which 300 million dollars will be spent on policy reforms to increase local resources.

It has also been stated by the ADB that the objective of the program is to improve tax administration, expenditure management and investment.