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BISP to get $200 million loan from ADB

KARACHI: Asian Development Bank (ADB) has approved a $200 million loan to the Benazir Income Support Programme (BISP) for development projects.

According to a press release, the amount is additional financing issued by the bank for the social development project which supports more than 5 million eligible families across the country through over $3.6 billion in total cash transfers so far.

“Social protection programs like the BISP are crucial to ensure that the poorest segments of the population do not go further into poverty,” said the ADB Director of Public Management Tariq Niazi.

He added that the ADB was committed to helping the Pakistani government “implement alternative modalities for social protection and poverty reduction

The ADB official noted that these initiatives included asset transfer programmes that promote improved human capital and reduce inter-generational poverty.

News Pakistan

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M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.