Pakistan, June 3 -- In a major financial boost, the Asian Development Bank (ADB) has approved an $800 million package to support Pakistan's economic reform efforts. The "Improved Resource Mobilization and Utilization Reform Program (Subprogram 2)" aims to improve fiscal sustainability, strengthen public financial management, and drive long-term economic resilience.

The package includes a $300 million policy-based loan and ADB's first-ever policy-based guarantee of up to $500 million. This guarantee is expected to attract up to $1 billion in commercial financing, offering Pakistan greater access to capital for development. ADB said the program will help the country strengthen tax systems, improve public spending, and promote digitalisatio...