ADB approves $800 million loan for Pakistan

  • The amount will be spent in Punjab, Sindh and KP for infrastructure development
Business

ISLAMABAD – Asian Development Bank (ADB) on Tuesday approved $802 million loan for Pakistan in a bid to improve trade and infrastructure.


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The bank will provide the total amount of the loan in three installments and the first installment of $180 million will be released in running year, 2017.

Subsequently, the second tranche of 270 million dollars and third installment of 360 million dollars will be issued in 2019 and 2021 respectively.

The amount will be used for rehabilitation of roads in Punjab, Sindh and Khyber Pakhtunkhwa (KP), while the programme will boost trade and communication in the region.

Earlier in September, the ADB approved $435 million for Pakistan for infrastructure development in provinces of Sindh and KP.

According to details, $330 million will be spent on the rapid transit system in Peshawar, while $100 million will be used in Sindh.