Asian Development Bank approves five year partnership for Pakistan | News Hub

   News hub reported the Asian Development Bank approves five-year partnership for Pakistan, Country Partnership Strategy will help create jobs and economic recovery, and will support education, health, trade and infrastructure, ADB Declaration. 

   ISLAMABAD: The Asian Development Bank has approved a five-year partnership strategy for Pakistan, which will help create jobs and economic recovery. ADB Education, Health, Trade, and Infrastructure Provide support in areas.

   According to a statement issued by the ADB has approved a five-year partnership strategy to revive Pakistan's Corona-affected economy.

   By the news, the Country Partnership Strategy will help in economic recovery. The Country Partnership Strategy will create jobs. The five-year partnership will be instrumental in economic reform. The coronavirus has affected the economy.

   The coronavirus has had social and economic effects on the population. ADB will provide support in the areas of education, health, and infrastructure. 

   The statement added that ADB will continue to support more public-private partnership projects. ADB will continue to support women's participation in the economy. ADB will support cross-border trade and the Ehsas Kiflat program.

   On the other hand, the International Monetary Fund (IMF) on Pakistan's economy has predicted that Pakistan's growth rate is expected to be 1.5% this fiscal year, with India leading the growth rate in the IMF index. 

   According to the index, India's growth rate is 11.5 percent, China's 8.3 percent, US 5.1 percent, UK 4.5 percent, Afghanistan 4.1 percent, Bangladesh 4.4 percent, Iran 3.0 percent, Malaysia 3.0 percent. The UAE is expected to grow by 1.3 percent and Saudi Arabia by 2.6 percent.

   Similarly, Moody's recently said in its news report that despite Corona, Pakistan's banking outlook has stabilized, the banking sector is expected to grow, Pakistan's economic growth rate will be 1.5 percent in 2021, the provision of loans to the private sector 5. Is likely to remain at 7%, inflation will also fall below 8%. Similarly, in 2022, the economic growth rate will be 4.4 percent.

   The growth rate in Pakistan will stabilize in the long run. Moody's added that reflecting solid funding from banks would weigh on profits. The debt profile is stable due to government policies, the business index has also improved in 2021.