Islamabad, August 21:
Pakistan is to get an Asian Development Bank (ADB) loan of $25 million for infrastructure development projects. This is in addition to the $2 billion the World Bank has offered Pakistan for similar projects. The ADB loan will â€œhelp create an environment for infrastructure investments to attract public and private participation, as well as bilateral and multilateral agencies,â€ The News today quoted a bank statement issued in Manila as saying. The projects will help the government develop its electricity, transportation and water sectors in an integrated manner.
The loan will be accompanied by a $150,000 technical assistance grant â€œto identify constraints
on investment (in infrastructure) and implement solutions to remove themâ€, the ADB statement said. The loan will be provided through the ADBâ€™s concessional Asian Development Fund and will carry a 32-year term, including a grace period of eight years. The World Bank offer was discussed at a meeting here this week presided over by prime minister Shaukat Aziz.