ISLAMABAD - The government of Pakistan has signed a loan agreement with the Asian Development Bank (ADB) for the Integrated Social Protection Development Programme (ISPDP) Additional Financing, amounting to $330 million. This program builds on the ongoing ADB-funded programme for strengthening and expanding social protection systems in Pakistan through the Benazir Income Support Programme (BISP). The agreement was signed by Secretary Economic Affairs Dr Kazim Niaz and ADB Country Director Emma Fan from respective sides.
In his remarks, the Secretary, Ministry of Economic Affairs highlighted the importance of this additional financing from concessional lending for enhancing institutional capacity and improving access to education and healthcare particularly among women, adolescent girls, and children from low-income families. He expressed gratitude for ADB’s continued support in this regard.
The Country Director, ADB reaffirmed the bank’s commitment to supporting the government of Pakistan’s objectives in strengthening social safety nets. She stated that this additional financing will support in achieving the program objectives of achieving inclusive growth, poverty reduction skills development and healthcare access for vulnerable populations. The signing of this loan agreement marks a significant step forward in enhancing social protection systems in Pakistan.
The result-based loan for the ongoing Integrated Social Protection Development Program (ISPDP) will help expand the grassroots-level social protection to alleviate poverty among poor women and their families.
The program will enhance the institutional capacity of the Benazir Income Support Programme (BISP), Pakistan’s flagship social protection agency, to transition to adaptive and climate-resilient social protection. This will include enhancing access to education pathways for children and youth from poor families and increasing access to health services and nutrition supplies for beneficiaries who are in disaster-prone areas.
Approved in December 2021, the ISPDP includes a $600 million loan from ADB’s ordinary capital resources, a $3 million grant from the Asian Development Fund, and a $24.48 million cofinancing grant from the Education Above All Foundation. The $627 million program, in implementation since 2022, has achieved significant results.
