32 ADB investment projects ongoing in Pakistan, EAD data

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ISLAMABAD: The Asian Development Bank’s portfolio in Pakistan amounts to USD7 billion, data issued by the Economic Affairs Division (EAD) shows, reports WealthPK.
The portfolio, as of September, 30, 2021, comprises 32 ongoing investment projects and one programme loan aimed at reforming the energy sector in Pakistan.
According to the data, seven projects are ongoing in the energy sector amounting to USD2,339 million with the ADB’s share of 33 percent.
Similarly, in the road and transport sector, there are seven projects worth USD1,152 million, with the ADB’s share of 16 percent. In the water and urban services sector, the bank has five development projects worth USD843 million with a share of 12 percent.
Likewise, in the public sector management, the ADB has three projects costing USD1,941 million with a share of 28 percent. In the agricultural and natural resources sector, the bank has seven projects costing USD653 million with a share of 9 percent.
Similarly, in the education and health sectors, the ADB has three projects worth USD77 million with a share of 1 percent.
According to the data, the ADB’s total disbursement for Pakistan during the financial year 2020-21 was USD1,376.7 million. Highlighting the disbursement details, the data reveals that out of a total of 1,376.7 million disbursements, USD300 million was disbursed for the energy sector. Similarly, disbursement for road and transport was USD139 million, water and urban services USD58 million, public sector, management USD236 million, agricultural and natural resources sector USD 32 million, and education and health sector USD11.7 million, while for reforms and oriental programmes USD 600 million loans were disbursed by the ADB.
Regarding the ongoing assistance, the data says the bank’s ongoing technical assistance (TA) portfolio for Pakistan totals USD71.98 million and comprises 35 projects.
The cumulative contract award and disbursement for TA portfolios are 67 percent and 40 percent respectively. It added that among 35 TAs, 22 are knowledge and support technical assistance (KSTA), and 13 are transactions technical assistance (TRTA).
According to the data, ADB is one of the largest development partners of Pakistan. Pakistan is also a founding member of the ADB with 2.174 percent shareholding and overall subscription of $3.22 billion.
The ADB provided financial support to Pakistan including programme lending, project loans, grant and technical assistance for bridging financial gaps and meeting the development needs.
Since 1966, the bank has disbursed over USD23 billion for project areas including economic reforms, energy, road transport, agriculture and water and social sectors.
Under its new Country Operations Business Plan (COBP), the bank has indicated provision of USD6.3 billion financial support in the next three years (2021-23) to enhance social protection, boost economic growth and promote sustainable development in Pakistan. – INP