Islamabad: The Asian Development Bank (ADB) announced the approval of USD 659 million for three distinct projects in Sindh and Khyber Pakhtunkhwa (KP), aiming to foster inclusive and sustainable growth and development in Pakistan, according to news published in the national dailies on December 7.
These projects, to be implemented by the federal government, as well as the provinces of Sindh and Khyber Pakhtunkhwa, will address issues such as domestic resource mobilization, school rehabilitation post the August 2022 floods, and enhancement of agricultural productivity for improved food security.
ADB Director General for Central and West Asia Yevgeniy Zhukov mentioned that this support will help Pakistan recover from the impacts of cost-of-living crisis and super-floods and return to the path of long-term development.
The first component involves a USD 300 million loan for ‘Improved Resource Mobilisation and Utilisation Reform Programme.’ This initiative aims to support sustainable, broad-based, and inclusive economic growth by implementing reforms in policies, laws, and institutional capacity related to domestic resource mobilization and utilization. The program seeks to transform tax administration, public expenditure management, and institutional structures to enhance resource mobilization, including non-debt resources like private investment and savings.
The second component consists of an additional USD 275 million emergency loan for the ongoing Sindh Secondary Education Improvement Project, part of ADB’s USD 1.5 billion commitment for Pakistan’s recovery from the 2022 floods. This funding will aid in reconstructing up to 1,600 flood-damaged schools with resilient and gender-responsive designs, promoting inclusivity and resilience in the education system, particularly in disadvantaged districts.
The third component involves an USD 80 million concessional loan for the Food Security Support Project in Khyber Pakhtunkhwa, also part of ADB’s USD 1.5 billion commitment for post-flood recovery. This project aims to address climate vulnerabilities, enhance food security, and uplift the livelihoods of rural farm households in the most flood-affected districts. It includes providing agriculture inputs and training to smallholder farmers, improving household nutrition, and empowering women in the process.
Moreover, ADB will administer a USD 3 million grant from the Japan Fund for Prosperous and Resilient Asia and the Pacific for the Food Security Support Project. This grant will specifically finance activities for women farmers related to seed cleaning and the safer handling of agrochemicals.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
