ISLAMABAD, Oct. 21 (Xinhua) -- The Asian Development Bank (ADB) has approved 1.5 billion U.S. dollars in financing to help Pakistan provide social protection, promote food security and support employment for its people amid devastating floods, the ADB said on Friday.
The loan is part of ADB's significant response package to support people, livelihoods and infrastructure in Pakistan in the wake of the recent floods which have affected over 33 million people and caused extensive damage to infrastructure and agriculture, the ADB said in a statement.
It will provide the fiscal support needed for the Pakistani government to implement its counter-cyclical development expenditure package, which is designed to target the poorest families who are often disproportionately affected in times of crisis, said the statement.
The program will help to expand the number of families receiving cash transfers from 7.9 million to 9 million and increase the number of children enrolled in primary and secondary schools, the ADB said, adding that the support would also enhance geographic coverage of health services and nutritional supplies in the South Asian country.
