ISLAMABAD: Finance Minister Ishaq Dar Wednesday maintained that Asian Development Bank (ADB) disbursed $1.5 billion to Pakistan under Building Resilience with Active Countercyclical Expenditures (BRACE) programme.

In a tweet, he said that “ADB has released $1.5 billion funds to Pakistan under BRACE programme for the credit of government of Pakistan’s account with State Bank of Pakistan.”

On Monday last, an agreement to this effect was signed by the ADB Country Director and Secretary Economic Affairs Division.

BRACE programme: $1.5bn loan agreement signed with ADB

The signing ceremony of building resilience with active countercyclical expenditures (BRACE) programme was witnessed by Prime Minister Shehbaz Sharif.

According to Prime Minister Office, the prime minister also expressed gratitude to the ADB Board for approving US$ 1.5 billion for budget support for Pakistan under the Building Resilience with Active Countercyclical Expenditures (BRACE) programme and appreciated the ADB for helping the country.

Copyright Business Recorder, 2022