ADB to provide $1.5b loan to Pakistan: The Nation

By HAQ NAWAZ submitted 2 days 11 hours ago

ISLAMABAD - Asian Development Bank (ADB) will provide US $ 300 million under multi-financing facility (MFF) to improve quality, continuity and coverage of urban services in the second tier-cities of Sindh province.
According to an agreement, signed by the government of Pakistan, Sindh government and the ADB here on Friday, the bank will give the said amount to Pakistan for the improvement of basic needs in the urban cities of Sindh.
Under this programme, over the next 10-years, the multi-financing facility will finance for improving basic urban services (water supply, sanitation, drainage and solid waste management) for nearly 4 million people of 20 towns in Sindh.

For more on this article, please click on the following link: ADB to provide $1.5b loan to Pakistan: The Nation

Accord inked for first tranche of $180m ADB loan: Upgradation of road network: Dawn

By Mubarak Zeb Khan

ISLAMABAD, Dec 3: The Asian Development Bank and the Economic Affairs Division on Wednesday signed an agreement for the first installment of the Multitranche Financing Facility (MFF) as part of the National Trade Corridor Highway Investment Programme.The project is expected to be completed by Dec 31, 2013, which would drastically reduce travel time between Karachi and Peshawar, a distance of 1,700 kms from existing 72 hours to 36 hours.Of the total agreed amount of $900 million ADB loan, the first tranche of $180 million would be used for construction of a 58km highway (section-1) between Faisalabad and Khanewal.The loan agreement was signed by ADB Pakistan Resident Mission’s Country Director Rune Stroem and Secretary of Economic Affairs Division, Farrukh Qayyum, while the project agreement was signed by ADB’s country director and NHA’s Altaf Ahmed Chaudhry.

For more on this article, please click on the following link: Accord inked for first tranche of $180m ADB loan: Upgradation of road network: Dawn