The government has approached three international financial institutions (IFIs), the World Bank (WB), the Asian Development Bank (ADB), and the Asian Infrastructure Investment Bank (AIIB) to bolster their response to Covid-19 with $1.5 billion in financial agreements signed.
According to an official statement, Economic Affairs Secretary Noor Ahmed signed the three loan agreements on behalf of the three financial institutions with WB Country Director Patchmothu Elangwon and ADB Country Director Zhao Yang.
Prime Minister Imran Khan observes the signing ceremony in Islamabad on Friday.
ADB is providing $500 million in financial assistance under the CWED-19 Active Response and Extensive Support Program (CARES) aimed at strengthening the health system and reducing the socio-economic impact of Code 19 epidemic diseases in Pakistan.
'AIIB is providing $500 million in joint funding to enhance the government efforts to reduce the direct and indirect effects of the Coronavirus outbreak,' the official statement said.
Human investment, on the other hand, will cost $500 million to protect the Foster Transformation (Shift), which aims to strengthen the system necessary for civil registration and the accumulation of critical statistics, health and education systems in human capital. Recognize and support women's participation in economic productivity. And improve the performance of national security networks.
$1.5 billion supply to Pakistan will be paid in the next few days.
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