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Pakistan secures $250m ADB loan for sustainable PPP projects

Pakistan secures $250m ADB loan for sustainable PPP projects
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June 21, 2024 (MLN): In a notable development on Friday, the government of Pakistan signed an agreement with the Asian Development Bank (ADB) to promote Public Private Partnership (PPP) programs. 

Dr. Kazim Niaz, Secretary Ministry of Economic Affairs and Mr. Yong Ye, Country Director, ADB signed the $250 million PPP loan to help Pakistan drive sustainable investments in infrastructure and services. 

The program's core objective is to strengthen the governance framework and enabling environment for PPPs at the federal government level, by strengthening the policy, legal and institutional frameworks for Public Investment Management (PIM) and Public Financial Management (PFM) for PPPs, national and sectoral infrastructure planning and PPP project preparation.

On this occasion, Dr. Kazim Niaz appreciated ADB for its continued support for Pakistan’s critical development needs and rehabilitation efforts in the post-flood context.

The program loans support the government’s reform agenda, Balance of Payment (BOP), and contribute to the macroeconomic stability of the country.

Dr. Kazim Niaz stated that the program would go a long way in the realization of the Prime Minister’s vision of greater involvement of the private sector in the development process. Mr. Yong Ye underscored the importance of a conducive enabling environment to foster strategic and fiscally affordable PPPs in Pakistan.

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Posted on: 2024-06-21T21:08:44+05:00