{"id":67177,"date":"2020-06-26T09:37:00","date_gmt":"2020-06-26T04:37:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=67177"},"modified":"2020-06-25T17:39:30","modified_gmt":"2020-06-25T12:39:30","slug":"adb-wb-lend-usd-1-bn-coronavirus-defence-budget","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/adb-wb-lend-usd-1-bn-coronavirus-defence-budget.html","title":{"rendered":"ADB, WB lend USD 1 bn for coronavirus defence, budget"},"content":{"rendered":"\n<p>Karachi: The Asian Development Bank (ADB) and the World Bank (WB) on Wednesday granted fresh loans worth USD 1 billion to Pakistan \u2014 with the finances aimed at combating the ongoing coronavirus pandemic and for overcoming the country\u2019s budget shortfall (particularly seen to affect health and other sectors), a news source reported. In this regard, the State Bank of Pakistan (SBP) received USD 500 million each from the two lenders.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/pakistan-adb-sign-loan-agreement-for-karachis-brt-project.html\" target=\"_blank\" rel=\"noreferrer noopener\">Pakistan, ADB sign loan agreement for Karachi\u2019s BRT project<\/a><\/p>\n\n\n\n<p>The loans provided by the banks have also raised the SBP\u2019s foreign currency reserves to USD 11 billion \u2014 which is worth nearly 4 months of import cover. This, in turn, has helped the Pakistani rupee recover nearly PKR 0.29, as it closed at PKR 167.36 per USD.<\/p>\n\n\n\n<p>Reportedly, Pakistan is set to receive another tranche of USD 500 million from the Asian Infrastructure Investment Bank. The country had signed the concessionary loan agreements with the three international lenders last week.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/adb-approves-usd-300mn-emergency-assistance-loan-pakistan.html\" target=\"_blank\" rel=\"noreferrer noopener\">ADB approves USD 300mn emergency assistance loan for Pakistan<\/a><\/p>\n\n\n\n<p>There is no specific condition on Pakistan for the utilisation of these loans, although they are expected to be used to combat the COVID-19 pandemic and for the revival of the country\u2019s economy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The Asian Development Bank (ADB) and the World Bank (WB) on Wednesday granted fresh loans worth USD 1 billion to Pakistan \u2014 with the finances aimed at combating the ongoing coronavirus pandemic and for overcoming the country\u2019s budget shortfall (particularly seen to affect health and other sectors), a news source reported. In this regard, the State Bank of Pakistan (SBP) received USD 500 million each from the two lenders. Read: Pakistan, ADB sign loan agreement for Karachi\u2019s BRT project The loans provided by the banks have also raised the SBP\u2019s foreign currency reserves to USD 11 billion \u2014 which is worth nearly 4 months of import cover. This, in turn, has helped the Pakistani rupee recover nearly PKR 0.29, as it closed at PKR 167.36 per USD. Reportedly, Pakistan is set to receive another tranche of USD 500 million from the Asian Infrastructure Investment Bank. The country had signed the concessionary loan agreements with the three international lenders last week. Read: ADB approves USD 300mn emergency assistance loan for Pakistan There is no specific condition on Pakistan for the utilisation of these loans, although they are expected to be used to combat the COVID-19 pandemic and for the revival&hellip;<\/p>\n","protected":false},"author":57,"featured_media":63438,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[6445,32850,32851,32849],"persona":[],"class_list":{"0":"post-67177","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-adb","8":"tag-adb-loan","9":"tag-wb-lend-usd-1-bn-for-coronavirus-defence","10":"tag-wb-loan"},"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 lend USD 1 bn for coronavirus defence, budget - Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The Asian Development Bank (ADB) and the World Bank (WB) on Wednesday granted fresh loans worth USD 1 billion to Pakistan \u2014 with the finances aimed at combating the ongoing coronavirus pandemic and for overcoming the country\u2019s budget shortfall (particularly seen to affect health and other sectors), a news source reported.\" \/>\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-lend-usd-1-bn-coronavirus-defence-budget.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ADB, WB lend USD 1 bn for coronavirus defence, budget - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Karachi: The Asian Development Bank (ADB) and the World Bank (WB) on Wednesday granted fresh loans worth USD 1 billion to Pakistan \u2014 with the finances aimed at combating the ongoing coronavirus pandemic and for overcoming the country\u2019s budget shortfall (particularly seen to affect health and other sectors), a news source reported.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/adb-wb-lend-usd-1-bn-coronavirus-defence-budget.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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