ISLAMABAD: Asian Development Bank’s (ADB) public sector portfolio has expended to $5.51 billion by December 31, 2014 in Pakistan, including 24 projects and one policy based lending as there are 21 active technical assistance projects amounting to $20.15 million, including 10 TAs approved in 2014 for $8.6 million.
While chairing a Quarterly Portfolio Review meeting which was joint 4-months review following the annual country portfolio review concluded in October 2014, Secretary, Economic Affairs Division, Muhammad Saleem Sethi, and Country Director Asian Development Bank (ADB), Werner E. Liepach, noted that the Energy Sector now comprised half of the Pakistan’s active portfolio and was likely to grow in the coming years.
The meeting also discussed the on-going projects funded by Asian Development Bank (ADB). The meeting was informed that in 2014, Economic Affairs Division and ADB signed 6 new projects, in addition to one policy based lending in energy sector amounting to $400 million. During the year, the yearly disbursement was more than $850 million, which is the highest achievement since 2009.
Further, in 2014 there was good progress overall in expanding the portfolio. From $4.49 billion in 2013 it escalated to $5.51 billion by the end of 2014, including resumption of policy based lending. With the anticipated new approvals of more than $1 billion per year as indicated in the Country Operations Business Plan(COBP) 2015-17 in the next three years, the meeting was apprised.
