Asian Development Bank releases $1.5 billion for Pakistan — finance minister

Staff members of the Asian Development Bank step out of the Manila-based lender's headquarters on February 17, 2009. (AFP/File)
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Updated 26 October 2022
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Asian Development Bank releases $1.5 billion for Pakistan — finance minister

  • Funds to help provide social protection, enhance food security in Pakistan
  • Pakistan estimates losses suffered from floods since mid-June at $30 billion

ISLAMABAD: The Asian Development Bank (ADB) released funds to the tune of $1.5 billion for Pakistan, Finance Minister Ishaq Dar confirmed on Wednesday, as the South Asian country looks for financial help to recover from cataclysmic floods that have inflicted heavy losses on it since mid-June.

The ADB said last week it had approved $1.5 billion for Pakistan to help provide social protection, promote food security and support employment in the country. Devastating floods and global supply chain disruptions following Russia’s invasion of Ukraine have damaged Pakistan’s already fragile economy.

The South Asian country estimates losses from raging floods, which have killed over 1,700 since June 14, at $30 billion.

“Asian Development Bank has released funds $1.5 billion to Pakistan under BRACE program for the credit of Govt of Pakistan’s account with State Bank of Pakistan,” Dar wrote on Twitter.

ADB’s Building Resilience with Active Countercyclical Expenditures (BRACE) program will help fund Pakistan’s $2.3 billion countercyclical development expenditure program designed to cushion the impacts of external shocks, including the Russian invasion of Ukraine, the bank said on its website.

Tariq Niazi, an ADB director, had said the program would help Pakistan deal with the impact of immediate shocks to the economy, while, in parallel, continue the structural reforms that are necessary to improve the country’s medium- to long-term macroeconomic prospects.


Imran Khan not a ‘national security threat,’ ex-PM’s party responds to Pakistan military

Updated 06 December 2025
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Imran Khan not a ‘national security threat,’ ex-PM’s party responds to Pakistan military

  • Pakistan’s military spokesperson on Friday described Khan’s anti-army narrative as a “national security threat”
  • PTI Chairman Gohar Ali Khan says words used by military spokesperson for Khan were “not appropriate”

ISLAMABAD: Former prime minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party on Saturday responded to allegations by Pakistan military spokesperson Lt. Gen. Ahmed Sharif Chaudhry from a day earlier, saying that he was not a “national security threat.”

Chaudhry, who heads the military’s media wing as director general of the Inter-Services Public Relations (ISPR), spoke to journalists on Friday, in which he referred to Khan as a “mentally ill” person several times during the press interaction. Chaudhry described Khan’s anti-army narrative as a “national security threat.”

The military spokesperson was responding to Khan’s social media post this week in which he accused Chief of Defense Forces Field Marshal Asim Munir of being responsible for “the complete collapse of the constitution and rule of law in Pakistan.” 

“The people of Pakistan stand with Imran Khan, they stand with PTI,” the party’s secretary-general, Salman Akram Raja, told reporters during a news conference. 

“Imran Khan is not a national security threat. Imran Khan has kept the people of this country united.”

Raja said there were several narratives in the country, including those that created tensions along ethnic and sectarian lines, but Khan had rejected all of them and stood with one that the people of Pakistan supported. 

PTI Chairman Gohar Ali Khan, flanked by Raja, criticized the military spokesperson as well, saying his press talk on Thursday had “severely disappointed” him. 

“The words that were used [by the military spokesperson] were not appropriate,” Gohar said. “Those words were wrong.”

NATURAL OUTCOME’

Speaking to reporters earlier on Saturday, Pakistan’s Defense Minister Khawaja Asif defended the military spokesperson’s remarks against Khan.

“When this kind of language is used for individuals as well as for institutions, then a reaction is a natural outcome,” he said. 

“The same thing is happening on the Twitter accounts being run in his [Khan’s] name. If the DG ISPR has given any reaction to it, then I believe it was a very measured reaction.”

Khan, who was ousted after a parliamentary vote of confidence in April 2022, blames the country’s powerful military for removing him from power by colluding with his political opponents. Both deny the allegations. 

The former prime minister, who has been in prison since August 2023 on a slew of charges he says are politically motivated, also alleges his party was denied victory by the army and his political rivals in the 2024 general election through rigging. 

The army and the government both deny his allegations.