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ADB announces Pakistani-rupee linked bonds worth $200m

ISLAMABAD: The Asian Development Bank (ADB) would provide offshore Pakistan rupee-linked bonds for International investors in order to support local currency and capital market.

The ADB announced to issue bonds worth $ $200 million and the step would improve value of the Pakistani rupee.

Pakistani government for the first time allowed ADB to sell bonds linked to its currency. The funds used for financing long term infrastructure and energy projects in Pakistan.

Economic Coordination Committee (ECC) had allowed ADB to issue rupee denominated bonds for investors last month while Dr. Abdul Hafeez Sheikh, Advisor to Prime Minister on Finance and Revenue, was in the chair.

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