Islamabad : The Asian Development Bank has approved a $700 million policy-based loan to support reforms in Pakistan’s insurance sector, aiming to modernise and strengthen the industry.
According to a statement, Emma Fan, Country Director for Pakistan at the bank, said the programme is designed to transform the country’s insurance framework by shifting it from an outdated, compliance-heavy system to a more modern, market-driven structure.
She added that the reforms are expected to expand financial protection for households and businesses while improving the overall efficiency, competitiveness, and inclusiveness of Pakistan’s insurance market.
