Pakistan Signs $330M Loan Agreement With ADB For BISP Growth
The most recent media update on the BISP official portal announces the signing of a new loan agreement to enhance the benefits of the Social Protection Program. This will allow for expansion of support in vulnerable areas and unconditional cash payments to all eligible individuals under BISP.
By means of BISP, the initiative enhances and reinforces Pakistan’s social welfare programs, building upon a previous project funded by ADB.
Expanding Pakistan’s Social Protection System: How BISP is Strengthening Welfare Programs
ADB Country Director Emma Fan and Secretary of Economic Affairs Dr. Kazim Niaz signed the deal for the additional financing of the Integrated Social Protection Development Program (ISPDP), which totals $330 million in loans from Pakistan and the Asian Development Bank (ADB).
اے ڈی بی کی کنٹری ڈائریکٹر ایما فین اور سیکرٹری اقتصادی امور ڈاکٹر کاظم نیاز نے انٹیگریٹڈ سوشل پروٹیکشن ڈویلپمنٹ پروگرام کی اضافی فنانسنگ کے لیے معاہدے پر دستخط کیے، جو کہ پاکستان اور ایشیائی ترقیاتی بینک (اے ڈی بی) کے قرضوں میں مجموعی طور پر 330 ملین ہے۔ اقتصادی امور کے ڈویژن کی طرف سے ہفتہ کو جاری ہونے والے ایک پریس بیان کے مطابق، یہ پروگرام بے نظیر انکم سپورٹ پروگرام کے ذریعے پاکستان کی سماجی تحفظ کی خدمات کو مزید بڑھاتا ہے، جسے اصل میں اے ڈی بی نے مالی امداد فراہم کی تھی۔
According to a press statement released on Saturday by the Economic Affairs Division, this program further enhances Pakistan’s social security services through the Benazir Income Support Programme (BISP), which was originally funded by ADB.
ADP Funding to Strengthen Social Protection Programs in Pakistan
At the MoU event, the ADB party revealed their plans to continue providing aid services in Pakistan for various programs such as the BISP Adolescent Girls Program and Nashonuma Program, which aim to support children and lactating women.
During the signing, the Secretary of Economic Affairs emphasized the importance of the additional funding, which is provided through concessional lending. They noted it as a crucial step towards improving access to healthcare and education and enhancing institutional capacity for vulnerable groups such as women, teenage girls, and children from low-income households. The Secretary also commended ADB for their ongoing support.
Significant $330 Loan Agreement to Combat Poverty and Empower Communities
During the event, Emma Fan, ADB’s country director, reiterated the Bank’s dedication to assisting Pakistan in strengthening its social safety nets. She stated that this financial support would aid the program in accomplishing its goals of alleviating poverty, fostering inclusive growth, improving skills, and granting marginalized communities access to healthcare.
According to ADB Country Director Emma Fan, “The program has enhanced accessibility to health services and nutrition supplies for women and adolescent girls. Additionally, it has also provided better access to primary and secondary education for children and adolescents belonging to low-income families.”
BISP Kafalat Program: Receive the New Rs. 13,500 Payment
The government has recently increased the budget for the Benazir Income Support Program and is now preparing to launch a revised payment structure beginning in January. As a result, the BISP Tehsil offices are currently conducting a survey. To access the latest data report, you can visit their official website and check your CNIC Detail.
Beneficiaries who have not yet been surveyed for the Benazir Income Support Program will receive a new Kafalat unconditional cash of Rs 13500. To ensure inclusion in the list of recipients, please complete the survey now.
In Conclusion
To sum up, the recently established $330 million loan deal between Pakistan and the Asian Development Bank is a crucial move towards bolstering and enlarging the Benazir Income Support Programme. This extra financial support aims to improve social safety measures, increase access to medical care and education, and alleviate poverty in marginalized areas.
This initiative demonstrates a dedication to inclusive growth and sustainable development in Pakistan by targeting women, children, and adolescents.