ISLAMABAD: The Asian Development Bank (ADB) may approve the delayed $400 million tranche of a $2 billion loan for Pakistan’s energy sector during the current week.
Under the Asian Development Bank’s five-year $6 billion loan for Pakistan, over $2 billion will be spent on the energy sector for improving the crumbling state-owned distribution and transmission networks and ensuring the financial viability of the sector by reducing electricity subsidies and line losses due to theft.
The ADB is committed to provide $1.02 billion to Pakistan during ongoing financial year 2015-2015. The bank had so far provided $83.19 million to Islamabad under foreign economic assistance during first quarter (July-September).
