Asian Development Bank (ADB) approved $ 1.5 billion loans for Pakistan

The Asian Development Bank (ADB) signed six financing loans to cash-strapped Pakistan worth USD 1.543 billion, to help reform and upgrade the country’s energy sector, roads, civic and health infrastructure.

The agreements were signed by Pakistan Secretary Economic Affairs Mian Asad Hayauddin and ADB Country Director Yong Ye at a meeting here, according to an official statement.

The agreements include USD 300 million policy-based loan to support financial, technical and governance reforms to strengthen Pakistan’s energy sector, USD 385 million financing agreement to improve urban infrastructure in five cities of Khyber Pakhtunkhwa, USD 235 million project loan for dualisation of the 222-km Shikarpur-Rajanpur Section of Indus Highway and USD 603 million results-based lending program to strengthen and expand the EHSAAS Programme, a social safety and poverty alleviation scheme.

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