Islamabad (Web Desk): The Asian Development Bank (ADB) has agreed to extend a financial package of $330 million to augment Pakistan's ongoing efforts to enhance its social protection infrastructure.
This additional funding will be channeled into the Integrated Social Protection Development Programmes, aimed at improving the country’s social safety nets and expanding coverage for vulnerable populations.
The official signing of the financing agreement took place in Islamabad on Saturday, with Dr. Kazim Niaz, the Secretary of the Economic Affairs Division, representing Pakistan, and Emma Fan, ADB's Country Director for Pakistan, overseeing the transaction.
In his remarks, Dr. Niaz underscored the strategic importance of this fresh capital infusion in strengthening institutional frameworks and increasing access to critical public services such as education and healthcare.
He highlighted that the financing would enable Pakistan to make significant strides toward improving the social welfare system, aligning with the nation’s broader economic development objectives.
Speaking on the occasion, Emma Fan reaffirmed the ADB's continued commitment to supporting Pakistan’s long-term development by fostering robust and inclusive social protection mechanisms.
The programme will build on and complement the existing Benazir Income Support Program (BISP), a flagship initiative funded by the ADB that aims to deliver direct financial assistance to low-income households.
By expanding and strengthening these safety nets, the project is set to contribute meaningfully to poverty alleviation, economic stability, and improved well-being for marginalized groups across the country.
The financial injection reflects a long-term partnership between the ADB and Pakistan, focused on enhancing resilience and equitable growth.