ADB authorizes a $320 million loan to Pakistan

In Pakistan, especially in the K-P and Punjab provinces, monsoon rains that were heavy from June to September caused about 350 deaths and hundreds more injuries.

The 900 kilometers of rural roads that have been impacted by flooding will be upgraded by the K-P Rural Roads Development Project using the monies that were granted.

Implementation of this initiative will be supervised by the Special Investment Facilitation Council (SIFC).

Road transportation is essential to Pakistani society’s socioeconomic progress and serves as a lifeline for its citizens. Yevgeniy Zhukov, director general of the ADB for Central and West Asia, stated that millions of people in Khyber Pakhtunkhwa will have more access to economic possibilities, shorter travel times, and cheaper transportation expenses thanks to this major infrastructure project.

Rehabilitating schools destroyed by the August 2022 floods, increasing agricultural production to promote food security, and strengthening Pakistan’s domestic resource mobilization were the three projects totaling $658.8 million that the Asian Development Bank approved in December 2023.

Among the many initiatives in which ADB has been actively involved is the K-P Cities Improvement Project.