The Asian Development Bank (ADB) has given in-principle approval to $ 603 million results-based lending program to support and enhance social security programs in Pakistan.
According to a statement released by the Asian Development Bank, the program will support the implementation of Pakistan’s national strategy for social protection and poverty reduction through Ehsaas cash transfers.
“As part of the Comprehensive Social Protection Development Program, the Asian Development Bank provides a regular $ 600 million loan and a $ 3 million grant from the Asian Development Fund and manages a $ 24 million grant from the Education Fund above all else,” in the statement.
Yevgeniy Zhukov, ADB Director General for Central and West Asia, commented that the program represents a major shift in ADB’s strategic social protection work in Pakistan in line with Ehsaas’ priorities.
ADB support is shifting from absolute income support cash transfers to a multimodal approach, with a greater focus on conditional cash transfers in education, health, and food supply, helping to reduce intergenerational poverty through human capital development.
According to the statement, the program supports Ehsas’ goal of expanding cash transfers to improve access to primary and secondary education for children and young people from poor families, especially girls, up to grade 10, and to improve health and nutrition services for women and adolescent girls. and poor children.
It also aims to launch accelerated learning programs for out-of-school children through conditional cash transfers.
In addition, the program will support the implementation of Pakistan’s social protection programs and the improvement of lending capacity. This builds on previous ADB support to further improve complaint handling, risk management, financial management, procurement, monitoring and evaluation, and management information systems – functions that help strengthen internal controls.
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