ADB approves loan amounting to 200 million dollars for Pakistan

MANILA:     Asian Development Bank (ADB) has approved loan amounting to 200 million dollars for Pakistan.

The loan sanctioned by ADB for Pakistan will be utilized for Benazir Income Support Program (BISP). About 5 million families are provided financial assistance under BISP. As many as 855000 women will benefit from the loan to be extended by BISP which constitutes 15 percent of total beneficiaries of BISP.

Last week UAE had announced to make investment of 5 billion dollars in Pakistan. As per information UAE will set up Oil Refinery in Balochistan.
International media has given report while citing to UAE ambassador in Pakistan that investment in Pakistan will be made through joint venture.

Investment will be made under joint venture of Mabadla petroleum company Abu Dhabi, Pak-Arab refinery and OME.

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