Pakistan becomes fifth largest beneficiary of ADB loans
and grants
In 2023, Pakistan secured its position as the fifth largest
recipient of loans and grants from the Asian Development Bank (ADB), with total
disbursements reaching $1.8 billion. Additionally, if co-financing is taken
into account, the disbursement figure rises to $2.353 billion for the same
period.
Despite receiving only $5.5 million in grants, Pakistan's
significant reliance on ADB funding underscores the country's substantial
engagement with the bank. The ADB's annual report for 2023 highlighted the
prevalent food insecurity across several countries, including Afghanistan,
Bangladesh, Myanmar, Pakistan, and Sri Lanka, with vulnerable communities
facing significant challenges.
Read More ADB
to work closely with Pakistan in addressing its economic challenges
In response to these issues, the ADB has initiated various
projects and programs in Pakistan. For instance, the bank is actively involved
in providing training to approximately 28,000 women in Khyber Pakhtunkhwa on
safe pesticide handling, seed cleaning, and storage practices.
Moreover, the ADB has committed policy-based loans aimed at
enhancing domestic resource mobilization in Pakistan, focusing on tax
administration improvements and fiscal risk management strategies integrating
climate-related considerations. Notably, the ADB has allocated funds for
projects to improve agricultural productivity and food security in
flood-affected regions like Khyber Pakhtunkhwa, as well as to strengthen power
transmission infrastructure in Punjab and Khyber Pakhtunkhwa to enhance energy
access and reduce greenhouse gas emissions.
Read More ADB
and Pakistan ink $1.2 billion loan deal, World Bank approves $350 million
financing
Furthermore, the ADB has extended support for
climate-resilient municipal services in Punjab cities, emergency grants for
flood assistance in Balochistan, and policy-based loans to enhance domestic
revenue generation and macroeconomic stability.
Under the Central Asia Regional Economic Cooperation (CAREC)
Program, the ADB has committed funds to upgrade national highways in Pakistan,
contributing to regional connectivity and economic development.
Additionally, the ADB has played a pivotal role in fostering
environmental governance by convening symposiums and workshops to engage
judges, policymakers, and scientists in discussions on forestry legislation and
law enforcement.
Read More ADB
pledges $1.55 billion to Pakistan as resilience support
Pakistan's substantial engagement with the ADB reflects the
critical role the bank plays in supporting the country's development agenda and
addressing pressing socio-economic challenges.
Source: The News