The first installment of International Monetary Fund or IMF loan to Pakistan will be received today.
$1 billion IMF loan to Pakistan will be provided to the country as the first installment. However, the total amount of IMF bailout package is $6 billion.
Ernesto Ramirez-Rigo, IMF official, revealed that the IMF loan to Pakistan was aimed at the stability of the economy of nations. He further added that there was a dire need that Pakistan reduces the concessions.
On the other side, ADB or Asian Development Bank also announced its plan to offer support to Pakistan with amount up to $10 billion for different programs and development projects during the next 5 years.
ADB also organized the series of consultations with the government of Pakistan to formulate the new CPS or Country Partnership Strategy.