Pakistan set to get another loan for infrastructure from the Asian Development Bank

4 months ago 28

Pakistan will get support from the Asian Development Bank (ADB) under its Country Partnership Strategy with Pakistan (2021–2025). The assistance is aimed at building liveable cities and climate and disaster resilience for mitigating climate change challenges and their adverse impact on agriculture and other sectors of the national economy, as reported by The News.

The ADB will also invest in sovereign and non-sovereign projects to enhance the water supply and sanitation systems and the urban transport infrastructure, including bus rapid transit and non-motorized transport systems.

It has also revealed that smart cities would be promoted through technology, including digital access to services, digital payments, smart water meters, and charged parking.

This includes investments in the sustainable management of watersheds and mangrove forests, improving water resources management, and strengthening flood risk management in areas that include vulnerable coastal districts.

Pakistan’s economic growth is expected to rebound this year before gaining pace in 2022, as business activity in the country gradually goes back to normal after the coronavirus pandemic, according to a report by the Asian Development Bank issued last month.

Source: The News

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