The Asian Development Bank (ADB) has approved an $800 million programme aimed at enhancing fiscal sustainability and improving public financial management in Pakistan, according to the bank's statement on Tuesday. The Improved Resource Mobilisation and Utilisation Reform Programme, Subprogramme 2, consists of a policy-based loan of $300 million and ADB's inaugural policy-based guarantee of up to $500 million, aiming to attract financing of up to $1 billion from commercial banks. The programme promotes digitalisation, investment facilitation, and private sector development, aiming to reduce the fiscal deficit and public debt and create space for social and development spending. A comprehensive support package accompanies the programme, including technical assistance and coordination with development partners to help Pakistan build long-term fiscal resilience and stability. Pakistan is a founding member of ADB, which since 1966 has committed more than $52 billion in financing to support the country's inclusive growth and infrastructure development, according to the announcement. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
