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Pakistan receives $1.5b foreign assistance this week: Govt

Pakistan receives $1.5b foreign assistance this week: Govt

ISLAMABAD: The Ministry of Finance on Thursday said Pakistan has received $1.5 billion in Covid-19 and development policy related finance assistance from three international financial institutions.

“During this week, Pakistan has received USD 1.5 billion in Covid 19 and development policy related assistance from the World Bank, Asian Development Bank and Asian Infrastructure Investment Bank,” it tweeted.

The ministry expressed gratitude to the government of Pakistan’s development partners for “this critically need support in such unprecedently difficult and uncertain time.”

Earlier, on June 24, the State Bank of Pakistan (SBP) had confirmed that it had received one billion dollars – 500 million dollars each from the World Bank and the Asian Development Bank.

The ADB approved a $500 million loan to help the country tackle the ongoing coronavirus and strengthen the health sector, while the World Bank approved a $500 million loan to help improve the healthcare and education systems.