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  "path": "/latest/pakistan-adb-sign-700m-loan-agreement-to-reform-financial-insurance-sectors/",
  "publishedAt": "2026-06-21T11:56:16.000Z",
  "site": "https://humenglish.com",
  "tags": [
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    "Pakistan",
    "Pakistan, ADB sign $700m loan agreement to reform financial, insurance sectors",
    "HUM News English"
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  "textContent": "ISLAMABAD: Pakistan and the Asian Development Bank (ADB) on Sunday signed a $700 million policy-based loan agreement aimed at strengthening the country's financial sector and driving comprehensive reforms across its insurance industry.\n\nUnder the newly inked \"ADB Insurance Transformation Programme,\" the Manila-based lender will disburse $700 million to Islamabad, which includes $250 million provided on highly concessional terms, according to a spokesperson for Pakistan's Ministry of Economic Affairs.\n\nPakistan's Economic Affairs Secretary Muhammad Humair Karim and ADB Deputy Country Director Hussain Haider signed the agreement in Islamabad.\n\nSpeaking at the signing ceremony, Karim termed the ADB a reliable and enduring development partner for Pakistan.\n\nHe emphasised that the primary objective of the program is to fortify the country's broader financial sector through deep-rooted institutional reforms.\n\n\"This programme will play a crucial role in operationalizing the 'Udaan Pakistan' initiative and executing the Securities and Exchange Commission of Pakistan's (SECP) five-year strategic roadmap,\" Karim said.\n\nHe said that the institutional support aligns directly with the federal government's policy goals regarding national financial inclusion and climate change resilience.\n\nADB Deputy Country Director Haider characterised the transformation programme as a revolutionary milestone for Pakistan's domestic insurance sector.\n\nHaider noted that the structural reforms would foster fair competition among local insurance firms, lower barriers to market entry, and significantly enhance the overall efficiency and regulatory oversight of the industry.\n\nThe post Pakistan, ADB sign $700m loan agreement to reform financial, insurance sectors appeared first on HUM News English.",
  "title": "Pakistan, ADB sign $700m loan agreement to reform financial, insurance sectors"
}