ADB, SAFCO to provide $86.2 million for Pakistan's first sustainable aviation fuel plant
Business
ADB is acting as the lender of record and lead arranger for the financing package
ISLAMABAD (Dunya News) – The Asian Development Bank (ADB) and SAFCO Venture Holdings Limited (SAFCO) on Wednesday signed an $86.2 million financial package for the construction of Pakistan's first private-sector-led sustainable aviation fuel (SAF) facility in Sheikhupura, Punjab.
According to an ADB statement, the funds comprise $41.2 million from the ADB's ordinary capital resources (OCR) and $45 million in syndicated loans.
The Emerging Africa & Asia Infrastructure Fund and Amsterdam-based ILX would also contribute for the project alongside the International Finance Corporation which would also provide a parallel syndicated loan.
The ADB is acting as the lender of record and lead arranger for the financing package.
