ADB to provide Pak USD 1.2 bn annual aid for infrastructure

The Asian Development Bank will provide about USD 1.2 billion as aid to Pakistan annually for infrastructure development and institutional reforms, a media report said today.
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.
"According to bank's new five year partnership strategy with Pakistan, the bulk of the financial assistance will be earmarked for improvement in power, transport, agriculture and urban services sectors," Radio Pakistan reported.
The bank will also help rehabilitate the Indus Basin Irrigation System and invest in bus rapid transit systems in Karachi, Peshawar and Punjab.

It will also assist the Benazir Income Support Program to expand its outreach to an additional 2.4 million women beneficiaries. It provides monthly stipend to poor families as part of targeted subsidy.
The bank will help establish a government-owned disaster risk fund to mitigate risks and enhance resilience to natural disasters.