ISLAMABAD: Pakistan and Asian Development Bank (ADB) Tuesday signed a loan agreement $325 million to improve facilities in education and health sectors of Khyber Pakhtunkhwa and Punjab by providing clean energy.
The ‘Results-Based Loan: Access to Clean Energy Investment Programme’ was signed by, Additional Secretary, Economic Affairs Division (EAD), Anjum Assad Amin and Country Director ADB, Werner E. Liepach.
Speaking on this occasion, Finance Minister, Senator Mohammad Ishaq Dar said $237 million of the loan would be utilized in Khber Pakhtunkhwa on installation of approximately 1,000 micro-hydropower plants while approximately $87 million would be spent in Punjab on installation of solar facilities in approximately 17,400 schools and public health facilities.
Dar thanked the ADB for providing assistance to Pakistan for developing such facilities in Pakistan.
Country Director ADB said this investment would directly target poor people and help to improve their livelihood.
He said there was a close nexus between infrastructure and living standards adding through this project millions of people would have access to better facilities.
