ISLAMABAD: The Asian Development Bank (ADB) is set to give another tranche of $400 million loan to Pakistan after approval from the ADB’s Board under the Energy Sector Reforms Programme.
This was revealed during a meeting between ADB Executive Director Sami Saeed and Federal Finance Minister Ishaq Dar. The finance minister exchanged views with Sami Saeed on ADB’s development programmes in Pakistan.
Sami Saeed said that AIIB had an important role to play for infrastructure development in Asian countries, specifically Pakistan, where the Government was focused on the energy, infrastructure and communication projects.
He said that the establishment of AIIB would help ADB in becoming more competitive and come up with better investment plans for its development partners. He added that Pakistan government’s positive measures for economic reforms had earned confidence of foreign investors who were eager to invest in mega projects in the country.
Sami Saeed informed the minister that ADB had approved $225 million for the flood victims out of which 65% will be for retroactive financing. Another $400 million were ready to be disbursed to Pakistan after the Board approval under the Energy Sector Reforms Programme.
