Islamabad: The Asian Development Bank (ADB) has approved financing of $150.55 million for Pakistan.
According to a statement issued by the Asian Development Bank, the funding will initiate a program of reforms for women. The program aims to improve access to loans for women in micro, small, and medium enterprises.
The announcement specifies that out of the financing, $100 million is a policy loan, and the program includes a $5.5 million grant, along with $50 million in loans to institutions providing financing. The $100 million will be utilized for legal and regulatory reforms, while women will be provided with $50 million in loans for business.
The Asian Development Bank stated that the $5.5 million grant will be spent on financial literacy programs.
Dear TNT Reader,
At The News Tribe, our mission is to bring you free, independent, and unbiased news and content that keeps you informed and empowered. We are committed to upholding the highest standards of journalism, as we understand that we are a platform for truth.
Apart from independent global news coverage, we also commit our unique focus on the Muslim world. In an age marked by the troubling rise of Islamophobia and widespread misrepresentation of Muslims in Western media, we strive to provide accurate and fair coverage.
But to continue doing so, we need your support. Even a small donation of 1$ can make a big difference. Your contribution will help us maintain the quality of our news and counteract the negative narratives that are so prevalent.
Please consider donating today to ensure we can keep delivering the news that matters. Together, we can make a positive impact on the world, and work towards a more inclusive, informed global society.
Donate Monthly Subscription Annual Subscription
