Asian Development Bank (ADB) on Saturday announced to provide Pakistan US$1.2 billion annually for infrastructure development and institutional reforms.
According to the bank’s new five year partnership strategy with Pakistan, the bulk of the fiscal assistance would be given for improvement in power, transport, agriculture and urban services sectors.
The bank in collaboration with other development partners will support rehabilitation of power transmission and distribution systems, construction and rehabilitation of highways and provincial roads connecting to the national trade corridor. It will also help rehabilitate the Indus Basin Irrigation System and invest in bus rapid transit systems in Karachi, Peshawar and Punjab.
The bank will also assist the Benazir Income Support Program (BISP) to expand its outreach to an additional 2.4 million women beneficiaries.
ADB will help establish a government owned disaster risk fund to mitigate risks and enhance resilience to natural disasters.
