2207Pakistan Current AffairsMedium
Which Bank approved $1.3 billion in loans for Pakistan for emergency budgetary support on Dec 06, 2019?
AIMF
BState Bank
CADB
DWorld Bank
Correct answer
C. ADB
Explanation
The Asian Development Bank (ADB) on Friday approved $1.3 billion budgetary support loan for Pakistan, including $1 billion in crisis response facility to shore up low official foreign exchange reserves. It was for the first time in Pakistan’s history that any political or military government availed the crisis response facility to repay its foreign debt and build foreign currency reserves.