Points to Remember:
- The Asian Development Bank (ADB) has approved an emergency loan worth $1 billion for Pakistan.
- The loan is part of a multi-donor economic reform programme led by the IMF to “shore up (Pakistan’s) public finances” and help strengthen its “slowing economy”, ADB said.
- It also approved a $300 million policy-based loan for Pakistan for the country’s energy sector.
About Asian Development Bank:
- Motto: Fighting Poverty in Asia and the Pacific
- Formation: 19 December 1966
- Headquarters: Philippines
- Membership: 68 countries
- Capital Islamabad
- President: Arif Alvi
- Prime Minister: Imran Khan
- Currency: Pakistani rupee
- The Asian Development Bank (ADB) has approved an emergency loan worth ___ for Pakistan. $1 billion
- Where is the headquarters of Asian Development Bank located? Philippines
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