Pakistan to get $500mln from Asian Infrastructure Investment Bank for development program

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"These funds will be received by State Bank of Pakistan within November 2022," Dar said on his Twitter account.

Gibran Naiyyar Peshimam, Reuters News

November 9, 2022

PHOTO

ISLAMABAD - Pakistan will receive $500 million as co-financing for the BRACE development program from the Asian Infrastructure Investment Bank (AIIB), the country's finance minister Ishaq Dar said on Wednesday.

The BRACE (Building Resilience with Active Counteryclical Expenditures Program) is an Asian Development Bank financing programme to counter the social fallouts of economic crisis.

"These funds will be received by State Bank of Pakistan within November 2022," Dar said on his Twitter account.

(Reporting by Gibran Naiyyar Peshimam in Islamabad)

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