1 week Ago By Monitoring Desk
The program builds on an existing ADB-funded initiative to strengthen and expand Pakistan's social protection systems through BISP Pakistan and the Asian Development Bank (ADB) signed a loan agreement worth USD 330 million for the Integrated Social Protection Development Program (ISPDP) Additional Financing. According to a press release from the Economic Affairs Division on Saturday, this program builds on an existing ADB-funded initiative aimed at strengthening and expanding Pakistan’s social protection systems through the Benazir Income Support Programme (BISP). The agreement was signed by Secretary Economic Affairs, Dr.
Kazim Niaz, and ADB Country Director, Emma Fan. Speaking at the signing, Secretary Economic Affairs emphasized the importance of this additional financing, which comes from concessional lending. He said it would help enhance institutional capacity and improve access to education and healthcare, especially for women, adolescent girls, and children from low-income families.
He also thanked ADB for its ongoing support. On the occasion, ADB Country Director Emma Fan reaffirmed the Bank’s commitment to helping Pakistan strengthen its social safety nets. She said this financing would support the program’s goals of inclusive growth, poverty reduction, skills development, and healthcare access for vulnerable groups.
The press release noted that this loan agreement is a major step in improving social protection systems in Pakistan. ADB also shared on its X account that the result-based loan will help expand grassroots-level social protection, focusing on reducing poverty among poor women and their families. “The program has helped increase access to primary and secondary education for children and adolescents from poor families, and it has also improved access to health services and nutrition supplies for women and adolescent girls,” said ADB Country Director Emma Fan.
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