ADB approves $700m loan for Pakistan's insurance sector

Islamabad: Asian Development Bank has approved a policy-based loan worth seven hundred million dollars to support reforms in Pakistan’s insurance sector. 

In a statement, ADB Country Director for Pakistan, Emma Fan, said the insurance reform program supports the transformation of Pakistan’s insurance sector from a legacy rules-based framework to a modern and market-oriented system.

She said the program will also expand financial protection for households and businesses and support a more competitive, inclusive and resilient insurance market.