Pakistan receives $500m first tranche from US

Pakistan receives first installment of US $500 million after Prime Minister Imran Khan’s visit to the US.

According to the reports of Baaghi TV, Federal Minister for Economic Affairs Hammad Azhar tweeted that Pakistan had received the first installment of US $500 million in aid from Asian Development Bank..

The first tranche of USD 500 million has been received in this regard and this will add to boosting our forex reserves.

— Hammad Azhar (@Hammad_Azhar) August 10, 2019

According to the Federal Minister, US aid will increase foreign exchange reserves.

Federal Minister Hammad Azhar conveyed this good news to the nation and said that Asian Development Bank has also restored relief program for Pakistan that was been suspended for the last two years due to the economic instability during the previous government.

The Asian Development Bank has revived its program based financing for Pakistan that was suspended 2 years ago in the last govt's term due to extremly high 'macro-economic imbalances' that had arisen at that time.

— Hammad Azhar (@Hammad_Azhar) August 10, 2019

It should be noted that Prime Minister Imran Khan, accompanied by Army Chief General Qamar Javed Bajwa and Foreign Minister Shah Mahmood Qureshi, visited the US where he met President Donald Trump when Trump offered mediation on Kashmir.