Islamabad: The Asian Development Bank (ADB) has announced a Country Operations Business Plan for Pakistan this Thursday, a news source has reported. The plan will provide coverage from 2019 to 2021 and will make resources available for a sovereign lending programme worth USD 7,528 million.
The document for the business plan shows that resources will be divided among energy, agriculture, rural development, transport, water, natural resources, and other urban infrastructure and services.
Apart from this business plan, ADB has also a signed a loan agreement that will offer USD 284m for improvement of the power transmission network in the country. Meanwhile, this new plan from ADB is also in alignment with their country partnership strategy completing in 2019 and the Vision-2025.
The final allocation of the resources will be decided according to availability of resources, project readiness and performance, and debt distress rating of the country. ADB has allocated USD 794 million for agriculture, natural resources, and rural development. USD 470 million had been allocated to water and urban infrastructure and services. Education and health will have USD 225 million in loan financing, while finance and public sector management will get USD 2400 million.
ADB will also offer technical assistance for ensuring project implementation and availability of knowledge of products. This will also improve quality and readiness of the various projects.