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ADB approves $180 million loan to improve Pakistan's urban environment

03:29 PM | 28 Nov, 2023
ADB approves $180 million loan to improve Pakistan's urban environment
Source: File Photo

MANILA — The Asian Development Bank (ADB) has approved a $180 million loan to improve water supply and solid waste management services in two rapidly growing cities in Pakistan’s Punjab province.

Expected to benefit as many as 1.5 million people, the Developing Resilient Environments and Advancing Municipal Services in Punjab Project will curtail excessive groundwater extraction and urban environment degradation by expanding and modernizing urban water supply in Rawalpindi and solid waste management systems in Bahawalpur, the bank said in a press release.

“This project will help make municipal services in these two cities more sustainable, resilient, and less carbon-intensive,” said ADB Director General for Central and West Asia Yevgeniy Zhukov. “By helping to deliver reliable water supply and improving waste management, we expect to significantly improve the lives of people in Rawalpindi and Bahawalpur.” 

In Rawalpindi, the project will help build new surface water intakes and a water treatment plant with a capacity of 54 million liters a day. It will lay transmission and distribution pipes to serve 82,000 households with metered connections. The financing will also upgrade water pumps and transmission mains to augment surface water supply and establish three pilot district metering areas to enhance operational efficiency.

In Bahawalpur, solid waste collection will be improved through the procurement of waste collection equipment and a new fleet to expand service coverage, to be supported by the new fleet management information system. The project will construct a facility for recycling as well as a floodproof landfill while the existing dump site will be rehabilitated. The financing will also enable the provision of personal protective equipment for informal sector workers.

“Aside from improving infrastructure services, ADB’s project will help enhance the operational efficiency, inclusivity, and financial sustainability of Rawalpindi Water and Sanitation Agency and Bahawalpur Waste Management Company,” said ADB Urban Development Specialist Xijie Lu. “We also aimed to be innovative, with some of the project’s components featuring renewable technologies, cost-recovery interventions, and behavioral change and communication elements.”

ADB will also administer a $1 million technical assistance provided by the Republic of Korea e-Asia and Knowledge Partnership Fund, to strengthen the capacity of the Rawalpindi Water and Sanitation Agency to address leakages in the city’s water supply network.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

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Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal - 20 Feb 2024

Pakistani currency remained largely stable against US dollar and other currencies in the open market on February 20, 2024 (Tuesday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.05 for buying and 282.1 for selling.

On Tuesday, Euro stands at 301 for buying and 304 for selling while British Pound rate stands at 352.4 for buying, and 355.4 for selling.

UAE Dirham AED hovers at 76.55 whereas the Saudi Riyal saw slight increase, with new rates at 74.2.

Today’s currency exchange rates in Pakistan - 20 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.05 282.1
Euro EUR 301 304
UK Pound Sterling GBP 352.4 355.4
U.A.E Dirham AED 76.55 77.25
Saudi Riyal SAR 74.2 75
Australian Dollar AUD 180 182
Bahrain Dinar BHD 743.12 751.12
Canadian Dollar CAD 206.5 208.5
China Yuan CNY 38.84 39.24
Danish Krone DKK 40.24 40.64
Hong Kong Dollar HKD 35.74 36.09
Indian Rupee INR 3.48 3.59
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 906.33 915.33
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 170.1 172.1
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 725.75 733.75
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 207
Swedish Korona SEK 26.85 27.15
Swiss Franc CHF 315.64 318.14
Thai Bhat THB 7.93 8.08

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