Pakistan to get yet another huge financial package worth $7.5 billion

Pakistan to get yet another huge financial package worth $7.5 billion
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ISLAMABAD - Pakistan is likely to get yet another financial package worth $7.5 billion from Asian Development Bank, it has been reported.

The Asian Development Bank (ADB) on Thursday announced its new ‘Country Operations Business Plan for Pakistan’ covering 2019-21, under which resources would be available for sovereign lending programme amounting to $7,528 million.

These resources will be available during the three year period in energy, transport, agriculture, natural resources and rural development, water and other urban infrastructure and services, according to the business plan document.

Besides the new plan, ADB on Thursday signed a loan agreement with the government, worth $284m to improve the country’s power transmission network.

The Manila-based lending agency says while the new government is in the process of establishing its development priorities, it is in close dialogue with the government.

Going forward, the bank proposed assistance pipeline for Pakistan may need to be further adjusted, particularly for 2020 and 2021. The new plan is aligned with the ADB’s country partnership strategy which is completing in 2019 and the ‘Vision-2025’.

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