ADB approves $200 million loan for Pakistan

File photo: AFP The Asian Development Bank has approved a loan of $200 million as “additional financing” to support the Government of Pakistan’s Benazir Income Support Program. According to a press release issued by the ADB, the BISP is considered one of the largest social protection programs in South Asia. It said the additional financing of $200 million will help improve financial management and controls in the BISP. “ADB’s additional financing will support further institutional strengthening and improvements in financial management and controls in BISP,” said Xiaohong Yang, the ADB’s country director for Pakistan. “A policy research unit will also be established within BISP to help monitor and improve the performance of ongoing programs and design new cost-effective and evidence-based initiatives such as poverty graduation programs and conditional cash transfers for health and nutrition in line with global best practices,” she added.