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Saved as : ADB approves

ADB approves $300m loan to Pakistan

MANILA: The Asian Development Bank said on Wednesday it had cleared a $300 million loan to Pakistan to support the country's trade, export promotion and industry programme.

The ADB also said it will provide $7 million worth of technical assistance loans.

The trade programme will rationalise tariffs, remove non-tariff barriers and give exporters better access to imported inputs and finance at market prices, the bank said.

The programme will also modernise customs administration, help meet World Trade Organisation obligations and offer better investor facilitation services, it added.

The loan will be repaid over a period of 15 years, including a grace period of three years, it said.-Reuters