Programme aims to expand coverage and close protection gaps, says development bank.
Image: StudyIQ
The Asian Development Bank (ADB) has approved a $700 million loan to support reforms in Pakistan’s insurance sector, aimed at strengthening financial resilience and expanding coverage.
According to the development bank, the programme is designed to improve regulatory frameworks, broaden access to insurance products, and reduce protection gaps across key segments of the economy.
Officials said the initiative will help modernise the sector by encouraging digitalisation, improving risk management practices, and enhancing institutional capacity.
The reforms are also expected to support long-term economic stability by increasing financial inclusion and helping individuals and businesses better manage risks.
ADB added that the funding reflects its continued commitment to supporting structural reforms in Pakistan’s financial sector.
