Islamabad: The Asian Development Bank (ADB) approved the ‘Khyber Pakhtunkhwa (KP) Water Resources Development Project’ with concessional ordinary capital resources lending of USD 3.60 million, according to news published on December 4.
As per the details, the government has requested Project Readiness Financing (PRF) from the ADB to prepare the KP Water Resources Development Project. The said project supports the government’s Vision 2025 and the ADB’s country partnership strategy for Pakistan 2021-2025, which addresses the food security constraints, building climate resilience, irrigation system upgrades, improving water storage and regulatory capacity, facilitating institutional transformation, and sustainable maintenance.
The news source mentioned that the PRF is aligned with ADB’s Strategy 2030 operational priorities of:
Promoting rural development and food security
Building climate resilience
Accelerating progress in gender equality
Addressing remaining poverty and reducing inequalities
It was stated that the PRF is included in the ADB’s Indicative Country Pipeline and Monitoring Report for Pakistan 2022-2024. The major strategic sector objective of the KP government’s medium-term development framework for 2019-2023 is to improve water resource management including the efficiency of irrigation water usage.
Moreover, the PRF will improve the project start-up and early implementation capacity of the executing and implementing agencies in procurement transactions and strengthen the overall PRF implementation management capacity. It will also consult the farming communities and prepare agriculture value chain assessment for investment design.
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.
