The Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) are likely to lend Pakistan $2 billion by the end of October, a press release showed on Thursday.

Of the total $2bn, the ADB will provide $1.5bn whereas the AIIB will provide $0.5bn.

The funds come at a time of dire need for Pakistan which is struggling to secure foreign exchange in order to meet $32bn gross external financing requirements for the FY23.

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