Pakistan emerges largest recipient of ADB loans

Click here: IINA – Pakistan emerges largest recipient of ADB loans

Pakistan emerged as the largest recipient of Asian Development Bank (ADB) loans in the central and West Asian region last year. The ADB approved 23 loans for central and West Asia totaling $1.9 billion. Of this, 80 percent amounting to $1.5 billion for 13 programs were approved for Pakistan, Dawn newspaper reported quoting an ADB report. Under the multi-billion dollar tranche financing facility that provides long-term support in transport and communication, energy security and irrigation services. ADB s total portfolio consists of 80 loans totaling $6.4 billion.

Some of the major programs included a renewable energy sector development program through a $510 million multi-tranche financing facility to fund new investments in small to medium-sized hydropower units, besides an $800 million power transmission enhancement project to ensure reliable and high-quality power supply to an ever increasing number of industrial, commercial and domestic consumers. Pakistan used to be in South Asia but has now been included in ADB s central and west Asian region that originally included countries from the Caucasus to Central Asia.

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