Islamabad:Pakistan has signed a $330 million loan agreement with the Asian Development Bank (ADB) to strengthen its social protection system and expand social safety nets at the grassroots level to combat poverty.
The agreement was signed by Kazim Niaz, Secretary of the Economic Affairs Division of Pakistan, and Emmafien, Country Director of ADB. According to an official statement, the loan will be utilized under the Integrated Social Protection Development Program, aimed at assisting poor and vulnerable households.
The program will provide financial assistance to poor women and their families through the Benazir Income Support Program (BISP) and offer climate-resilient support to vulnerable families.
Emmafien, ADB’s Country Director, stated that the program has contributed to increasing access to primary and secondary education for poor children and youth. Additionally, it has improved access to healthcare services and nutritional supplies for women and young girls.
