ADB Inks Loans Worth $1.5b With Pakistan

The Asian Development Bank (ADB) signed sign six financing loan agreements worth $1.535 billion with Pakistan on Wednesday.

This financing will be for the countrys energy sector reforms and improvement in health facilities.

The signing ceremony was held at the Economic Affairs Division between ADB Vice President and Economic Affairs Minister Omar Ayub Khan.

According to the agreement, $300 million out of the disbursed money will be used for energy sector reforms and financial sustainability programmes.

$600 million will be provided for the Ehsaas programme whereas $380 million for K-P City Improvement Investment Project.

Sources familiar with the matter said the Economic Affairs Division and ADB will also sign a loan agreement of $380 million for the K-P Cities Improvement Investment project.

Apart from this, $15 million are for the K-P Cities Improvement Project (PRF II).

They will also sign a loan agreement of $235 million for the Central Asia Economic Transport Corridor Development Programme.

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