{"id":65429,"date":"2020-05-14T10:00:38","date_gmt":"2020-05-14T05:00:38","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=65429"},"modified":"2020-05-13T15:51:33","modified_gmt":"2020-05-13T10:51:33","slug":"adb-wb-provide-usd-4bn-budget-support-pakistan-covid-19-spread","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/adb-wb-provide-usd-4bn-budget-support-pakistan-covid-19-spread.html","title":{"rendered":"ADB, WB to provide USD 4bn in budget support to Pakistan amid COVID-19 spread"},"content":{"rendered":"\n<p>Islamabad: The Asian Development Bank (ADB) and the World Bank (WB) have pleaded to provide USD 4 billion in budget support to Pakistan and help the country mitigate the negative economic impacts of coronavirus, a news source reported.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/petroleum-division-submit-pakistans-first-ever-oil-hedging-plan-before-ecc.html\" target=\"_blank\" rel=\"noreferrer noopener\">Petroleum Division to submit Pakistan\u2019s first-ever oil hedging plan before ECC<\/a><\/p>\n\n\n\n<p>To this effect, the international agencies will cooperate with Pakistan and repurpose their investments in existing projects to increase the economic resilience of the country.<\/p>\n\n\n\n<p>ADB President Masatsugu Asakawa and WB President David Malpass wrote a joint letter to Prime Minister (PM) Imran Khan and urged him to maintain the course of medium-term structural reforms, so that the country recovers from the crisis swiftly once the crisis ebbs away. The two acknowledged that the structural reforms which were implemented before the COVID-19 outbreak were stabilizing the economy.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/first-covid-19-patient-recovers-with-plasma-therapy.html\" target=\"_blank\" rel=\"noreferrer noopener\">Pakistan\u2019s first COVID-19 patient recovers with plasma therapy<\/a><\/p>\n\n\n\n<p>They acknowledged the Global Debt Relief Initiative by <a href=\"https:\/\/www.zameen.com\/news\/pakistan-included-in-g20-debt-relief-extension-plan.html\" target=\"_blank\" rel=\"noreferrer noopener\">Group 20 (G20)<\/a> countries to suspend debt service payments. They also acknowledged the government\u2019s decision to utilise the fiscal space generated by debts suspension for the support of the vulnerable people in the country.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Asian Development Bank (ADB) and the World Bank (WB) have pleaded to provide USD 4 billion in budget support to Pakistan and help the country mitigate the negative economic impacts of coronavirus, a news source reported. Read: Petroleum Division to submit Pakistan\u2019s first-ever oil hedging plan before ECC To this effect, the international agencies will cooperate with Pakistan and repurpose their investments in existing projects to increase the economic resilience of the country. ADB President Masatsugu Asakawa and WB President David Malpass wrote a joint letter to Prime Minister (PM) Imran Khan and urged him to maintain the course of medium-term structural reforms, so that the country recovers from the crisis swiftly once the crisis ebbs away. The two acknowledged that the structural reforms which were implemented before the COVID-19 outbreak were stabilizing the economy. Read: Pakistan\u2019s first COVID-19 patient recovers with plasma therapy They acknowledged the Global Debt Relief Initiative by Group 20 (G20) countries to suspend debt service payments. They also acknowledged the government\u2019s decision to utilise the fiscal space generated by debts suspension for the support of the vulnerable people in the country.<\/p>\n","protected":false},"author":76,"featured_media":64102,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15016],"tags":[24453,29024,21890],"persona":[],"class_list":{"0":"post-65429","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-developments","8":"tag-asian-development-bank-adb","9":"tag-budget-support-to-pakistan","10":"tag-world-bank-wb","11":"cat-15016-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ADB, WB to provide USD 4bn in budget support - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Asian Development Bank (ADB) and the World Bank (WB) have pleaded to provide USD 4 billion in budget support to Pakistan and help\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/adb-wb-provide-usd-4bn-budget-support-pakistan-covid-19-spread.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ADB, WB to provide USD 4bn in budget support - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Asian Development Bank (ADB) and the World Bank (WB) have pleaded to provide USD 4 billion in budget support to Pakistan and help\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/adb-wb-provide-usd-4bn-budget-support-pakistan-covid-19-spread.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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