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ADB to provide $1.2 bln annually to Pakistan

Latest Update: October 17, 2015 | 193 Views
ADB

NEW YORK: Asian Development Bank will provide an assistance package of about one point two billion dollars to Pakistan annually for infrastructure development and institutional reforms.

According to bank’s new five year partnership strategy with Pakistan, the bulk of the financial assistance will be earmarked for improvement in power, transport, agriculture and urban services sectors.

The bank in collaboration with other development partners will support rehabilitation of power transmission and distribution systems, construction and rehabilitation of highways and provincial roads connecting to the national trade corridor.

It will also help rehabilitate the Indus Basin Irrigation System and invest in bus rapid transit systems in Karachi, Peshawar and Punjab.

The Bank will also assist the Benazir Income Support Program to expand its outreach to an additional 2.4 million women beneficiaries.

The Asian Development Bank will help establish a government owned disaster risk fund to mitigate risks and enhance resilience to natural disasters.