Pakistan inks loan agreement with ADB for power transmission lines

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Pakistan inks loan agreement with ADB for power transmission lines

ISLAMABAD - Pakistan has inked a new loan with the Asian Development Bank for the power transmission lines.

Asian Development Bank (ADB) has signed a loan agreement with Pakistan for improvement of the power transmission system in the country.

The volume of the ADB loan to Pakistan will be 284 mln dollars. The loan will be used for a project to improve the power transmission system in the country.

ADB’s Country Director and Secretary Economic Affairs Division signed the agreement here.

Moreover, the lender will also give additional four million dollars for power generation project, a statement said.

The bank in October announced to provide $7.1bn in financing to help Pakistan achieve inclusive and sustainable growth over the next three years.

Mr. Wencai Zhang, vice president of the Manila-based lender, who visited the Pakistan on October 4-5, had affirmed ADB’s support for the government of Pakistan’s new development and reform agenda.