Which Bank approved $1.3 billion in loans for Pakistan for emergency budgetary support on Dec 06, 2019?

A. State Bank
B. IMF
C. ADB
D. World Bank

Answer

Correct Answer: C. ADB


Detailed About MCQs

The Asian Development Bank (ADB) on Friday approved a $1.3 billion budgetary support loan for Pakistan, including $1 billion in crisis response facility to shore up low official foreign exchange reserves. It was for the first time in Pakistan’s history that any political or military government availed the crisis response facility to repay its foreign debt and build foreign currency reserves.