ADB may provide USD 150 mn funds for Bahawalpur - Zameen News

ADB may provide USD 150 mn funds for Bahawalpur

April 4, 2019 • news

Bahawalpur: The Asian Development Bank (ADB) may provide financial assistance of up to USD 150 million for development projects in Bahawalpur, a news source reported.

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These projects include the provision of amenities such as a water supply, waste management system, sewerage, horticulture, as well as the development of the city’s master plan for the next 25 years.

Bahawalpur Waste Management Company (BWMC) Managing Director Naeem Akhtar recently held a meeting with a 10-member ADB delegation to this effect. Out of the USD 150 million figure expected, the international agency may allocate funds worth USD 11.65 million for BWMC.

The BWMC managing director said that the Punjab government is also considering suggestions with respect to taxing households for maintaining the cleanliness of roads and streets in the city.

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Previously, the provincial government had discontinued the annual grant-in-aid worth PKR 152 million to the company, which later entered into an agreement with ADB. BWMC will repay the loan amount at an interest rate of 0.25% after three years.