The Asian Development Bank (ADB) on Wednesday approved an additional $330 million in financing to strengthen Pakistan’s federally administered social protection programmes under the ongoing Integrated Social Protection Development Program (ISPDP).
“The result-based loan for the ongoing ISPDP will help expand the grassroots-level social protection to alleviate poverty among poor women and their families,” read a statement released by ADB.
The Manila-based lender was of the view that the programme would enhance the institutional capacity of the country’s Benazir Income Support Programme (BISP) to transition to adaptive and climate-resilient social protection.
“This will include enhancing access to education pathways for children and youth from poor families and increasing access to health services and nutrition supplies for beneficiaries who are in disaster-prone areas,” it said.
Pakistan receives $500 million from ADB for climate programme
“This programme strengthens Pakistan’s effort to improve human capital development and reduce intergenerational poverty, especially for women who are disproportionately affected during difficult economic situations,” said ADB Director General for Central and West Asia Yevgeniy Zhukov.
“ADB’s additional financing will help boost the government’s ability to reach more of the poorest and most vulnerable in Pakistan,” Zhukov added.
Approved in December 2021, the ISPDP includes a $600 million loan from ADB’s ordinary capital resources, a $3 million grant from the Asian Development Fund, and a $24.48 million co-financing grant from the Education Above All Foundation.
ADB said that the $627 million programme has achieved significant results.
ADB says it has 7 projects for this year, 16 for the next
“The programme is performing well. It has helped increase access to primary and secondary education for children and adolescents from poor families as well as improved access to health services and nutrition supplies for women and adolescent girls,” said ADB Country Director for Pakistan Emma Fan.
“Steady progress has been also made to improve the financial management, procurement practices, internal controls, and information management system for BISP, which is responsible for implementing cash transfer programmes.”
Earlier, ADB approved a $200 million loan to modernize Pakistan’s power distribution infrastructure and improve distribution companies’ ability to deliver reliable electricity.
The Asian Development Bank (ADB) on Wednesday approved an additional $330 million in financing to strengthen Pakistan’s federally administered social protection programmes under the ongoing Integrated Social Protection Development Program (ISPDP).
“The result-based loan for the ongoing ISPDP will help expand the grassroots-level social protection to alleviate poverty among poor women and their families,” read a statement released by ADB.
The Manila-based lender was of the view that the programme would enhance the institutional capacity of the country’s Benazir Income Support Programme (BISP) to transition to adaptive and climate-resilient social protection.
“This will include enhancing access to education pathways for children and youth from poor families and increasing access to health services and nutrition supplies for beneficiaries who are in disaster-prone areas,” it said.
Pakistan receives $500 million from ADB for climate programme
“This programme strengthens Pakistan’s effort to improve human capital development and reduce intergenerational poverty, especially for women who are disproportionately affected during difficult economic situations,” said ADB Director General for Central and West Asia Yevgeniy Zhukov.
“ADB’s additional financing will help boost the government’s ability to reach more of the poorest and most vulnerable in Pakistan,” Zhukov added.
Approved in December 2021, the ISPDP includes a $600 million loan from ADB’s ordinary capital resources, a $3 million grant from the Asian Development Fund, and a $24.48 million co-financing grant from the Education Above All Foundation.
ADB said that the $627 million programme has achieved significant results.
ADB says it has 7 projects for this year, 16 for the next
“The programme is performing well. It has helped increase access to primary and secondary education for children and adolescents from poor families as well as improved access to health services and nutrition supplies for women and adolescent girls,” said ADB Country Director for Pakistan Emma Fan.
“Steady progress has been also made to improve the financial management, procurement practices, internal controls, and information management system for BISP, which is responsible for implementing cash transfer programmes.”
Earlier, ADB approved a $200 million loan to modernize Pakistan’s power distribution infrastructure and improve distribution companies’ ability to deliver reliable electricity.
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