Pakistan greenlights $200m ADB loan despite questions over digitalisation project
ISLAMABAD: Pakistan on Friday greenlit another $200 million (Rs57bn) loan from the Asian Development Bank (ADB) for digitalisation, despite serious questions raised by the Planning Commission. The project was one of seven projects worth Rs116bn cleared by the Central Development Working Party (CDWP) at a meeting presided over by Planning Minister Ahsan Iqbal. He conditionally cleared the Rs57bn…
Pakistan's Planning Commission has given conditional approval for a $200 million loan from the Asian Development Bank (ADB) to support the Transforming and Digitalising Revenue Administration (TADRA) project. This project aims to boost the country's tax-to-GDP ratio from 11.1pc to 13.5pc by 2029. The approval comes as Pakistan has already borrowed over $4.7 billion to improve revenue collection, but the tax-to-GDP ratio remains low.
The loan is part of the ADB's Investment Project Financing (IPF) program and will be repaid over 25 years with a 1.5pc to 2pc annual interest rate.
Written by urgent.news from Dawn's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
