Pakistan’s Government Sign a Loan Agreement With Asian Development Program

A special concessional loan agreement has been signed between Pakistan’s government and the Asian Development Bank (ADB). This loan is worth $15 million and will support Punjab development urban projects.

The agreement is signed between Syed Pervaiz Abbasi, Secretary, Economic Affairs Division (EAD), and Xiaohong Yang, Country Director, ADB.

The project focuses on 7 major cities of Punjab and is called Project Readiness Financing Facility (PRF) for engineering and designing urban development projects as revealed by the provincial government. The 7 cities include Rawalpindi, Dera Ghazi Khan, Multan, Muzaffargarh, Rahim Yar Khan, Sargodha, and Bahawalpur.

Following are the activities

• Keep the information about the projects updated and including studies and surveys.
• Advanced procurement activities.
• The groundwork for the Spatial Land Use Plans
• Research about Detailed Engineering Designs (DEDs)
• Advance activities for an improved municipal corporations/ committees model

ADB has assured the government of Pakistan that they will help them in improving the socio-economic conditions of the country.

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