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