Pakistan to get $500 million from Asian Infrastructure Investment Bank for development program
The sign of Asian Infrastructure Investment Bank (AIIB) is pictured at its headquarters in Beijing, China July 27, 2020. REUTERS/Tingshu Wang
Pakistan will receive $500 million as co-financing for the BRACE development program from the Asian Infrastructure Investment Bank (AIIB), the country's finance minister Ishaq Dar said on Wednesday.
The BRACE (Building Resilience with Active Counteryclical Expenditures Program) is an Asian Development Bank financing programme to counter the social fallouts of economic crisis.
"These funds will be received by State Bank of Pakistan within November 2022," Dar said on his Twitter account.
