The State Bank of Pakistan (SBP) announced on Thursday that it has received $500 million from the Asian Development Bank (ADB) as part of a loan for the Climate Change and Disaster Resilience Enhancement Program (CDREP).

According to a statement from the central bank, these funds will be reflected in SBP’s foreign exchange reserves for the week ending November 29, 2024, with the updated figures set to be published on December 5, 2024.

The inflow is expected to further bolster the central bank’s reserves, which currently stand at $11.419 billion as of November 22, 2024. This development comes as a positive step toward strengthening Pakistan’s financial position and supporting initiatives aimed at addressing climate change and disaster resilience.