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ADB Greenlights $659 Million Loan for Trio of Projects in Pakistan

“Discover how the Asian Development Bank’s $659 million loan is set to drive sustainable development in Pakistan through three impactful projects, including school rehabilitation and local resource building. Learn more about the initiatives aimed at enhancing economic growth and improving lives.”

ADB Greenlights $659 Million Loan for Trio of Projects in Pakistan

The Asian Development Bank (ADB) has agreed to lend $659 million to Pakistan for three different projects. The goal is to help Pakistan’s economy grow sustainably and improve the lives of its people. The money will be used for building local resources and fixing schools damaged by floods last year.

The ADB thinks that with these funds, Pakistan can also produce more food to make sure there’s enough for everyone. This financial help is especially important after the recent destructive floods.

Out of the $659 million, $300 million will be used to make policy changes that will increase local resources. Another $275 million will go to the Secondary Education Improvement Project for Sindh, specifically to rebuild 1,600 schools damaged by the floods. There’s also an extra $800,000 for keeping an eye on how well the project is doing.

The ADB’s overall plan is to make Pakistan’s economic situation better and enhance the quality of life for its people. They are not only focusing on fixing the damage from the floods but also on making improvements in tax administration, spending management, and investments.

A little while ago, the ADB gave Pakistan a $180 million loan to improve water supply and solid waste management services in Punjab. This project aims to benefit 1.5 million people in Punjab by expanding and modernizing the Rawalpindi Urban Water Supply and enhancing the solid waste management system in Bahawalpur.

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This project will make municipal services better in both Bahawalpur and Rawalpindi. Additionally, a water treatment plant capable of handling 54 million liters per day will be built in Rawalpindi as part of this initiative.

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