ADB Sanctions $2.17bn of Loans for Pakistan Power Projects

20 May 2009 (Last Updated May 20th, 2009 18:30)

The Asian Development Bank (ADB) has endorsed loans amounting to $2.17bn for power projects in Pakistan since July 2008. ADB country director Rune Stroem said the bank is the biggest development partner for Pakistan across the power supply chain and energy segment. The loans

The Asian Development Bank (ADB) has endorsed loans amounting to $2.17bn for power projects in Pakistan since July 2008.

ADB country director Rune Stroem said the bank is the biggest development partner for Pakistan across the power supply chain and energy segment.

The loans are part of ADB’s sanctioned $5.3bn loans for 60 projects as of July 2008 for Pakistan. They include $810m for power distribution improvement and $800m for power transmission.

Also included is $510m for renewable energy projects.

Rune said that the current technical assistance programme covers the creation of a central power purchase agency, gas sector restructuring, power distribution improvement and the development of a renewable energy policy.

He added that the ADB had just finished its assistance programme for the improvement of the Thar coal fields and provision of technical assistance to the office of energy adviser to the prime minister.