The Asian Development Bank (ADB) approved $800 million programme to strengthen fiscal sustainability and improve public financial management in Pakistan, according to a statement issued by the Philippines-based lender.

The statement read that subprogramme 2 of the “Improved Resource Mobilisation and Utilisation Reform Programme” includes a policy-based loan of $300m, and ADB’s “first ever policy-based guarantee” of up to $500m, which is expected to mobilise financing of up to $1........

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