Asian Development Bank approves $700 million loan for Pakistan

The Asian Development Bank (ADB) has approved a loan of $700 million for Pakistan. This significant funding is designated for reforms within the insurance sector and to expand insurance coverage across the country. According to the ADB, the primary objective of this program is to bridge the existing gap in insurance protection and to foster greater participation from the private sector. The initiative is crucial for enhancing financial resilience and stability within Pakistan's economy by strengthening its insurance framework.