ADB announces $7.1bn financial package for Pakistan - Business

[Laozi]

ADB announces $7.1bn financial package for Pakistan - Business
Last Updated On 07 October,2018 05:27 pm

ADB Vice President Wencai Zhang said the financial package was planned under a three-year strategy.

ISLAMABAD (Dunya News) – The Asian Development Bank (ADB) Sunday announced a $7.1-billion financial package for Pakistan, saying it would help the country “achieve inclusive and sustainable growth” over the next three years.

“ADB plans to significantly increase the country’s sovereign operations to $7.1bn over three years,” Wencai Zhang, vice president of the Manila-based lender, said in a statement.

“Along with its continued focus on energy, infrastructure development, and institutional reforms, ADB is also re-engaging in education and health, and social safety net through income support programme.”

Zhang said the financial package was planned under a country partnership strategy for 2018-2020. He also appreciated the Pakistan Tehreek-e-Insaf (PTI) government’s 100 Days Agenda.

Zhang had met a high-level delegation including Finance Minister Asad Umar, Planning Minister Khusro Bakhtiar, Education Minister Shafqat Mehmood, and Adviser to Prime Minister on Institutional Reforms Dr Ishrat Hussain during his two-day visit to Pakistan.

In his meetings, Zhang congratulated the PTI government on assuming office and noted the government’s 100 Days Agenda that prioritises revitalising economic growth, transforming governance and revolutionizing social services, said a statement issued by ADB on Friday.

“ADB and Pakistan have a more than 50-year history of strong partnership,” said Zhang. “We are committed to deepening our cooperation with the new government and supporting its development agenda to bring prosperity to the people of Pakistan.”

https://dunyanews.tv/en/Business/460768-ADB-announces-7-billion-dollars-financial-package-Pakistan

 

[ziaulislam]

ADB announces $7.1bn financial package for Pakistan - Business
Last Updated On 07 October,2018 05:27 pm

ADB Vice President Wencai Zhang said the financial package was planned under a three-year strategy.

ISLAMABAD (Dunya News) – The Asian Development Bank (ADB) Sunday announced a $7.1-billion financial package for Pakistan, saying it would help the country “achieve inclusive and sustainable growth” over the next three years.

“ADB plans to significantly increase the country’s sovereign operations to $7.1bn over three years,” Wencai Zhang, vice president of the Manila-based lender, said in a statement.

“Along with its continued focus on energy, infrastructure development, and institutional reforms, ADB is also re-engaging in education and health, and social safety net through income support programme.”

Zhang said the financial package was planned under a country partnership strategy for 2018-2020. He also appreciated the Pakistan Tehreek-e-Insaf (PTI) government’s 100 Days Agenda.

Zhang had met a high-level delegation including Finance Minister Asad Umar, Planning Minister Khusro Bakhtiar, Education Minister Shafqat Mehmood, and Adviser to Prime Minister on Institutional Reforms Dr Ishrat Hussain during his two-day visit to Pakistan.

In his meetings, Zhang congratulated the PTI government on assuming office and noted the government’s 100 Days Agenda that prioritises revitalising economic growth, transforming governance and revolutionizing social services, said a statement issued by ADB on Friday.

“ADB and Pakistan have a more than 50-year history of strong partnership,” said Zhang. “We are committed to deepening our cooperation with the new government and supporting its development agenda to bring prosperity to the people of Pakistan.”

https://dunyanews.tv/en/Business/460768-ADB-announces-7-billion-dollars-financial-package-Pakistan

to great extent will cover the external financing requirement

 

[Chakar The Great]

Good news. Will help the government untill reforms done get translated into positive balance of payment.

 

[xyxmt]

these are the good move loans, the ones taken by NS were bad move loans

 

[313ghazi]

these are the good move loans, the ones taken by NS were bad move loans

Time will tell.

If these loans pay of bills or lead to development or are a source of investment to generate wealth then these loans will be good.

I'd these loans buy luxury apartments, fleets of luxury cars and business empires FOR PTI leaders and thier families then these loans will be bad.

 

[Path-Finder]

looted wealth needs to be recovered fast. loans are not the solution but their is no other choice.

 

[BATMAN]

looted wealth needs to be recovered fast. loans are not the solution but their is no other choice.

First we need to establish, how the wealth was looted and how much.
Foreign banks or states would not transfer cash, just because you tell them too.
Nawaz Sharif, personally own nothing beyond Raiwind palace.

 

[Hyde]

So basically 9 (expected from MF) + 7 billion dollars of loan in first 100 days of PTI

 

[Path-Finder]

First we need to establish, how the wealth was looted and how much.
Foreign banks or states would not transfer cash, just because you tell them too.
Nawaz Sharif, personally own nothing beyond Raiwind palace.

here is what we know.

• Models like ayan
• using fisheries department
• old school taking it out in luggage
• fake banks
• hiding it in cellars, walls, etc
• hiding it under someone else's name
• receiving kickbacks outside the country
• gambling
• fake money exchanges
• ishaq dar

 

[BHarwana]

So basically 9 (expected from MF) + 7 billion dollars of loan in first 100 days of PTI

Yes these all are announcements and expected loans. Has PTI till now taken any loan?
What is it October and they have run a finally ripped off country for 60 days now.

If FDI keeps coming in PTI is not going for loans and 100 days without loans will be a great achievement. Have you given it A thought that PTI is talking so much about loan but has not filed for any till now. Why?
We need loans for foreign reserves and the policies PTI is using might save them from loans.

Here is Imran Khan talking against loans and PMLN as much they take name of IMF they defame them self. PMLN went to IMF and now criticising PTI lol. Where PTI is not going to IMF so actually PMLN criticising its self lol.

https://twitter.com/x/status/1048930108998934529

 

[Clutch]

looted wealth needs to be recovered fast. loans are not the solution but their is no other choice.

True... However, getting that money from these countries is turning out harder than initially assumed... Western countries are dependent on the blood money from the "3rd world"

 

[BetterPakistan]

these are the good move loans, the ones taken by NS were bad move loans

Yes these are good moves only because these loans will be used to pay back the loans taken by your leader.

 

[Menace2Society]

Loans loans loans loans loans loans loans loans loans loans loans loans loans

 

[RaGotimaar]

Most ADB loans are hard loans with commercial rates of interest and only few loans to poor countries are soft loans with low interest rates. Which ones are these?

 

[xyxmt]

Yes these are good moves only because these loans will be used to pay back the loans taken by your leader.

They said the same thing, loans to pay back what PPP took