SBP receives $1bn from ADB, World Bank
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KARACHI (City News) – State Bank of Pakistan (SBP) on Tuesday received $1 billion from two international financial institutions to mitigate adverse economic impact of COVID-19.
According to details, SBP has said that it had received $500 million each from Asian Development Bank (ADB) and World Bank (WB).
This is concessional financing in the form of budgetary support that is being provided by the international financial institutions (IFIs) that will help mitigate socio-economic impact of COVID-19 pandemic and strengthen health, education, and social safety nets systems.
