{"id":90393,"date":"2022-12-02T15:23:56","date_gmt":"2022-12-02T10:23:56","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=90393"},"modified":"2022-12-02T15:24:01","modified_gmt":"2022-12-02T10:24:01","slug":"sbp-500-mn-aiib-development-support","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-500-mn-aiib-development-support.html","title":{"rendered":"SBP gets USD 500 mn from AIIB for development support"},"content":{"rendered":"\n<p>Karachi: The State Bank of Pakistan (SBP) has received USD 500 million from Asian Infrastructure Investment Bank (AIIB) to support development initiatives in the country, news sources reported on November 29.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/adb-usd-1-5-bn-pakistan-brace-program.html\" data-type=\"post\" data-id=\"89625\" target=\"_blank\" rel=\"noreferrer noopener\">ADB releases USD 1.5 bn for Pakistan under BRACE program<\/a><\/p>\n\n\n\n<p>The news was shared by Finance Minister Ishaq Dar on his Twitter account. The minister said that \u2018AIIB has transferred today, as per their board\u2019s approval, to State Bank of Pakistan\/Government of Pakistan $500 million as programme financing,\u2019.<\/p>\n\n\n\n<p>The funding is part of the ADB-initiated <a href=\"https:\/\/www.zameen.com\/news\/aiib-to-provide-usd-500m-for-post-flood-rehabilitation.html\" data-type=\"post\" data-id=\"89983\" target=\"_blank\" rel=\"noreferrer noopener\">Building Resilience with Active Countercyclical Expenditures (BRACE)<\/a> Programme aimed to counter the social fallouts of economic crisis. Under the programme, Pakistan is to receive USD 1.5 billion loan for budgetary support and help flood-related rehabilitation and reconstruction activities. The BRACE programme is an allocated USD 2.3 billion programme to countercyclical development expenditure programme designed to cushion the impacts of external shocks.<\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/aiib-paks-request-funding-fy-23.html\" data-type=\"post\" data-id=\"88597\" target=\"_blank\" rel=\"noreferrer noopener\">AIIB to consider Pak\u2019s request for higher funding for FY 23<\/a><\/p>\n\n\n\n<p>It is vital to highlight that the country&#8217;s FOREX reserves are under pressure as a result of the increasing Current Account Deficit (CAD) due to high fuel imports. The government has asked international organisations and lenders to restructure the existing loan arrangement to ease payment and minimise strain on reserves.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The State Bank of Pakistan (SBP) has received USD 500 million from Asian Infrastructure Investment Bank (AIIB) to support development initiatives in the country, news sources reported on November 29. Read: ADB releases USD 1.5 bn for Pakistan under BRACE program The news was shared by Finance Minister Ishaq Dar on his Twitter account. The minister said that \u2018AIIB has transferred today, as per their board\u2019s approval, to State Bank of Pakistan\/Government of Pakistan $500 million as programme financing,\u2019. The funding is part of the ADB-initiated Building Resilience with Active Countercyclical Expenditures (BRACE) Programme aimed to counter the social fallouts of economic crisis. Under the programme, Pakistan is to receive USD 1.5 billion loan for budgetary support and help flood-related rehabilitation and reconstruction activities. The BRACE programme is an allocated USD 2.3 billion programme to countercyclical development expenditure programme designed to cushion the impacts of external shocks. Read: AIIB to consider Pak\u2019s request for higher funding for FY 23 It is vital to highlight that the country&#8217;s FOREX reserves are under pressure as a result of the increasing Current Account Deficit (CAD) due to high fuel imports. The government has asked international organisations and lenders to restructure the existing&hellip;<\/p>\n","protected":false},"author":84,"featured_media":61474,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15017],"tags":[55158,54674,55159,55157],"persona":[],"class_list":{"0":"post-90393","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-notices-announcements","8":"tag-adb-pakistan-loan-agreement","9":"tag-adb-releases-usd-1-5-bn-for-pakistan-under-brace-program","10":"tag-aiib-loan","11":"tag-sbp-gets-usd-500-mn-from-aiib-for-development-support","12":"cat-15017-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SBP gets USD 500 mn from AIIB for development support - Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The State Bank of Pakistan (SBP) has received USD 500 million from Asian Infrastructure Investment Bank (AIIB) to support development initiatives\" \/>\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\/sbp-500-mn-aiib-development-support.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBP gets USD 500 mn from AIIB for development support - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Karachi: The State Bank of Pakistan (SBP) has received USD 500 million from Asian Infrastructure Investment Bank (AIIB) to support development initiatives\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/sbp-500-mn-aiib-development-support.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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