ADB Approves $540 Million for Pakistan Development Projects
Out of this amount, $400 million will be allocated for reforms in state-owned enterprises.
ISLAMABAD: The Asian Development Bank (ADB) has approved $540 million in funding for Pakistan, according to an official statement.
Out of this amount, $400 million will be allocated for reforms in state-owned enterprises. The remaining $140 million is earmarked for development projects in Sindh’s coastal areas. This funding will also support the restructuring of the National Highway Authority. Over 500,000 people in Sindh are expected to benefit from these initiatives.
The projects aim to safeguard 150,000 hectares of agricultural land and restore 22,000 hectares of forests, contributing to environmental protection and food security.
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Additionally, an extra $40 million in support will be provided through the Green Climate Fund. Key initiatives in Sindh will include drainage improvement, flood protection, and restoration of palm forests. The overall objective of the projects is to enhance infrastructure and environmental resilience in Sindh’s coastal regions.
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