Inside Financial Markets

ADB approves $100 million to improve infrastructure in Sindh

The Asian Development Bank (ADB) has approved a $100 million loan to strengthen the standards in the development and delivery of public-private partnership (PPP) projects and help bridge the infrastructure investment gap in Sindh province.

The Government of the United Kingdom, through the Department for International Development, is also co-financing the project, contributing $19.23 million in grant and $4.75 million in technical assistance, both of which will be managed by ADB. The total cost of the project is $188.98 million in which the Sindh government is contributing $65 million.

“Sindh province continues to have large infrastructure and social service needs which PPPs can assist in addressing,” said Werner Liepach, ADB’s Country Director for Pakistan. “The project will strengthen the provincial government’s capacity to identify, develop, and implement PPPs as well as boost private sector participation.” Sindh is crucial to Pakistan’s economic future, representing 23 percent of the country’s population and 32 percent of GDP. Annual infrastructure investments in the province have been minimal over the last few years, representing only four percent of the total investment requirements in transport, electricity, water supply and sanitation, solid waste, telecommunication, and irrigation. The assistance will help in leveraging private capital to augment infrastructure investments in Sindh. In addition, projects will help create jobs and generate income which will further improve the overall economic growth in Sindh.

Baqar Hussain

A Wannabe CFO, just had stepped in the corporate sector, willing to explore every aspect here and learn as mush as i can, awareness for those who dont, get the info where ever possible and stay up to date always.

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)