The Asian Development Bank has signed a USD 500-million loan agreement with cash-strapped Pakistan to support the country's trade competitiveness and exports.
The Manila-based ADB also approved a USD 750,000 technical assistance package to support the preparation and implementation of the program in the country, the multilateral lender said in a statement.
"Trade is an important pillar in Pakistan's overarching development objective to foster economic stability and sustainable high growth," said ADB Director General for Central and West Asia Werner Liepach.
"The trade and competitiveness program will help define and implement key reforms to help tackle these development challenges and bring livelihood opportunities to the people of Pakistan."