KARACHI: Pakistan has received $1 billion from international financial institutions, which will help offset the damage caused to the economy by the lockdown during the COVID-19.
According to the details, the SBP said that Pakistan has received $1 billion from international financial institutions, $500 million from the Asian Development Bank and $500 million from the World Bank under the COVID-19 Activities Response and Expenditure Support Program.
It may be recalled that the World Bank, Asian Development Bank and Asian Infrastructure Development Bank had agreed to provide $1.5 billion to Pakistan to overcome the damage caused to the economy by the lockdown during the ongoing Corona pandemic.
It may be recalled that in April, Pakistan received $1.39 billion from the International Monetary Fund (IMF) under the Rapid Finance Instrument.
The statement said that the current uncertainty would have economic implications for Corona, improve international reserves with the help of the IMF and provide financial support to increase temporary spending.
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