ISLAMABAD – The Asian Development Bank (ADB) has approved an $800 million programme aimed at boosting fiscal sustainability and strengthening public financial management in Pakistan, the Manila-based lender said in a statement.
The newly approved “Improved Resource Mobilisation and Utilisation Reform Programme – Subprogramme 2” includes:
“Pakistan has made significant progress in improving macroeconomic conditions,” said Emma Fan, ADB’s Country Director for Pakistan. “This programme backs the government’s commitment to further reforms that will strengthen public finances and promote sustainable growth.”
According to ADB, these measures are designed to reduce fiscal deficits and public debt, while creating fiscal space for social and development spending.
The package is supported by technical assistance and coordination with development partners to help Pakistan build long-term fiscal resilience.
Khurram Schehzad, adviser to the Finance Minister, confirmed the approval via X (formerly Twitter), saying: “Diplomacy led by Economic Affairs & Ministry of Finance secures majority support at ADB Board.”