ADB (The Asian Development Bank) has granted $685 million in funding for two projects: boosting Pakistan’s energy industry and improving its financial sustainability, as well as finance to help promote livability and community health.
The bank authorised a $300 million policy-based loan to promote financial, technical, and governance changes in Pakistan’s energy industry in order to strengthen it and improve its financial viability.
The funding is part of the ADB’s Energy Sector Reforms and Financial Sustainability Programme’s second subprogram, which aims to enhance Pakistan’s energy sector governance while also reducing and managing the cumulative financial shortage known as circular debt across the power supply chain.
In December of this year, the first subprogram, worth $300 million, was approved.
