ISLAMABAD, Pakistan: The Asian Development Bank (ADB) will provide an assistance package of about $1.2 billion to Pakistan annually for infrastructure development and institutional reforms, according to a Radio Pakistan report.
The bulk of the financial assistance will be earmarked for improvement in power, transport, agriculture and urban services sectors, according to bank’s new five year partnership strategy with Pakistan.
The bank in collaboration with other development partners will support rehabilitation of power transmission and distribution systems, construction and rehabilitation of highways and provincial roads connecting to the national trade corridor.
It will also help rehabilitate the Indus Basin Irrigation System and invest in bus rapid transit systems in Karachi, Peshawar and Punjab.
The bank will also assist the Benazir Income Support Program (BISP) to expand its outreach to an additional 2.4 million women beneficiaries.
In its recent report, the World Bank supported Pakistan’s BISP saying it is one of the largest programs in South Asia. It said that the BISP is currently providing income support to almost 4.8 million families and about 18 million people.
In addition, the Asian Development Bank will also help establish a government owned disaster risk fund to mitigate risks and enhance resilience to natural disasters.
