ADB Approves US$500 Mln Loans For Pakistan To Encounter Crisis: Bernama

MANILA, June 26 (Bernama)-- The Asian Development Bank (ADB) said Friday it has approved two loans to Pakistan totalling US$500 million to assist the government with its macroeconomic stability efforts and fund a targeted safety net programme for the poor.

The first loan, US$150 million, from ADB's Special Fund will target a Benazir Income Support Programme (BISP) -- a cash transfer programme focusing on poor women, China's Xinhua News Agency reported the ADB as saying in a statement.

Under the scheme, the female head of qualified families receives 1,000 rupees (US$12.3) per month to help defray the rising cost of food and other household expenses, the Manila-based development bank said.

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