ADB approves $250m loan to boost PPPs in Pakistan

News Image

MG News | June 05, 2024 at 12:37 PM GMT+05:00

0:00

June 05, 2024 (MLN): The Asian Development Bank (ADB) has approved a $250 million policy-based loan to help the Government of Pakistan drive sustainable investments in infrastructure and services through public–private partnerships (PPPs).

According to a press release issued, ADB’s Promoting Sustainable Public–Private Partnerships Program supports implementation of government policies to create an enabling environment for fiscally affordable PPPs and promote inclusive economic growth. 

“This program is part of our comprehensive and integrated package of public sector management support that balances the country’s fiscal consolidation and growth objectives,” said ADB Director General for Central and West Asia Yevgeniy Zhukov.

“The program will help the Government of Pakistan create an environment that is conducive to strategic, fiscally affordable PPPs that will bring the country closer to its development goals,” Zhukov added.

ADB’s program supports reforms that will increase the absorptive capacity of PPP infrastructure investments by creating a more robust and integrated legal and institutional framework for public investment management and public financial management for PPPs.

The program supports implementation of an integrated PPP policy.

The reforms will facilitate efficient infrastructure planning and promote sustainable development practices in infrastructure projects, such as climate risk screening and gender considerations in project feasibility assessments and PPP contracts.

“Mobilizing private finance through PPPs can help to bridge the financing gap in public sector infrastructure projects—which is vital,” said ADB Economist Sana Masood.

This program will help ensure PPPs in Pakistan are structured correctly and implemented effectively in order to deliver more efficiency, innovation, and value for money,” Sana Masood added.

A $700,000 technical assistance grant is financing the program’s preparation and implementation.

In December 2023, an additional $950,000 was approved by ADB to support PPP pipeline identification, capacity building, and sector strategy development.

Pakistan was a founding member of ADB. Since 1966, ADB has committed over $52 billion in public and private sector loans, grants, and other forms of financing to promote inclusive economic growth in Pakistan and improve the country’s infrastructure, energy and food security, transport networks, and social services.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 138,412.25
167.69M
0.32%
447.43
ALLSHR 85,702.96
423.92M
0.15%
131.52
KSE30 42,254.84
82.09M
0.43%
180.24
KMI30 194,109.59
84.37M
0.15%
281.36
KMIALLSHR 56,713.67
217.03M
0.03%
16.37
BKTi 37,831.34
13.04M
1.62%
603.62
OGTi 27,440.63
3.93M
-0.09%
-23.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,755.00 119,440.00
118,260.00
460.00
0.39%
BRENT CRUDE 72.04 73.17
71.75
-0.47
-0.65%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.73 69.79
68.45
-0.48
-0.69%
SUGAR #11 WORLD 16.42 16.58
16.40
-0.17
-1.02%

Chart of the Day


Latest News
July 30, 2025 at 04:11 PM GMT+05:00

PSX Closing Bell: You Can’t Always Get What You Want


July 30, 2025 at 03:47 PM GMT+05:00

CCP resolves 223 cases, recovers Rs360m


July 30, 2025 at 03:15 PM GMT+05:00

SBP keeps policy rate unchanged at 11%


July 30, 2025 at 03:09 PM GMT+05:00

LSE Capital exits Ensmile Limited


July 30, 2025 at 03:06 PM GMT+05:00

PMYP, PILDAT sign landmark LOI to strengthen youth



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg