ADB, Pakistan ink $200 mn loan agreement.

The Asian Development Bank (ADB) and the government of Pakistan on Friday signed a $200-million loan agreement for additional financing to help support the Pakistan's flagship social protection programme - the Benazir Income Support Programme (BISP).

The agreement was signed by ADB Country Director Xiaohong Yang and Economic Affairs Division Secretary Noor Ahmed while Minister for Economic Affairs Hammad Azhar witnessed the signing ceremony.

BISP is part of a larger government strategy called Ehsaas aimed at reducing poverty and inequality. BISP, primarily funded by the government of Pakistan, supports Ehsaas through cash transfers, poverty graduation programmes and a targeted safety net.

The ADB-financed social protection development project, approved in October 2013, has enabled the enrollment of over 855,000 women beneficiaries in the programme.

The $200-million additional financing will lend support to the initiative and help BISP implement institutional strengthening measures.

"ADB's additional financing will further support institutional strengthening of BISP," said Xiaohong. "A...