ADB approves USD700m loan for insurance reforms

The Asian Development Bank (ADB) has approved a USD 700 million policy-based loan to support reforms aimed at strengthening Pakistan’s insurance sector. The program seeks to expand insurance coverage and reduce protection gaps. It will also help stimulate private sector participation and support sustainable economic growth. The Insurance Transformation Program will strengthen Pakistan’s financial resilience by deepening insurance markets and expanding financial protection for households, businesses, farmers, and public finances against extreme weather events, disasters, and life-cycle risks.