Pakistan has signed a $1 billion financing agreement with a consortium of commercial banks, backed by the Asian Development Bank (ADB), to support its ongoing economic reform initiatives and enhance resource management.
According to an official statement, the Ministry of Finance finalized a five-year long-term financing arrangement under which $500 million is guaranteed by the ADB, providing stability and confidence to the overall deal.
The funds will be utilized under the Resource Mobilization and Utilization Reform Program, aimed at strengthening fiscal planning, improving revenue generation, and enhancing the country’s financial outlook.
Structured as a syndicated loan, the agreement brings together several regional and international banks including Dubai Islamic Bank, Standard Chartered, Abu Dhabi Islamic Bank, Sharjah Islamic Bank, Ajman Bank, and Habib Bank Limited (HBL).
Government officials see the deal as a strategic move to relieve financial pressure and ensure the smoother implementation of structural reforms in the coming years.
