Islamabad: A delegation of the Asian Development Bank (ADB) on Wednesday announced its plans to invest USD 2 billion, over a period of three years, into the energy sector of Pakistan — a news source reported.
The ADB delegation, led by Director General for Central and West Asia Department Werner Liepach, held a meeting with Federal Minister for Power Omar Ayub Khan and Special Assistant to the Prime Minister on Petroleum Nadeem Babar in this regard. Attendees of the meeting agreed that maximum transparency would have to be ensured for the execution of these projects.
The ADB remains the top contributor to the energy sector, with USD 2.1 billion worth of investments. This also includes an additional USD 300 million that was released earlier his week for various reforms, like addressing issues with the circular debt.
The delegation was also briefed on the recently approved renewable energy policy. This policy will be presented before the Council of Common Interests (CCI), in a meeting slated to be held by the end of the month.
