ISLAMABAD (Dunya News) — The Asian Development Bank (ADB) has approved a loan of 381 million dollars for Pakistan.
According to the ADB statement, the funds will be spent on agriculture, education, and health facilities in Punjab.
Out of the total amount, 120 million dollars will be provided as a concessional loan, while 4 million dollars will be given as grant assistance.
ADB stated that the financing will help improve educational facilities in Punjab, while also enhancing public health services and centers across the province.
The statement added that the funds will also support small farmers by providing them access to modern agricultural facilities and improved services.
Earlier, Pakistan and ADB signed three major agreements under which the bank will provide 61.8 million dollars for road and water-related projects.
According to the spokesperson of the Economic Affairs Division, agreements were signed for readiness financing of the ML-1 Karachi-to-Rohri section, project readiness financing for the Quetta Bus Rapid Transit (BRT), and additional financing for the Balochistan Water Resources Development Sector project.
The agreements were signed by Secretary Economic Affairs Muhammad Karim and Secretary Railways Mazhar Ali Shah, while ADB Country Director Emma Fan signed on behalf of the Asian Development Bank.