Pakistan and Asian Development Bank (ADB) will sign six financing loan agreements worth $1.535 billion on Wednesday, according to official sources privy to the development. Minister for Economic Affairs, Omar Ayub Khan, will witness the loan signing ceremony.
The projects will encompass energy sector, social protection initiatives, Khyber Pakhtunkhwa cities uplift, cross-regional transportation, and water resources.
As per relevant documents, the Economic Affairs Division (EAD) and ADB will sign a loan agreement worth $600 million for an integrated social protection development program (Ehsaas program).
Another project worth $300 million would be signed for energy sector reforms and financial sustainability program.
EAD and ADB will also sign a loan agreement of $380 million for the Khyber Pakhtunkhwa Cities Improvement Investment project. They will sign a loan agreement of $15 million for Khyber Pakhtunkhwa Cities Improvement Project (PRF II).
The two parties will also sign a loan agreement of $235 million for the Central Asia Economic Transport Corridor Development Program (Tranche 2).
The two sides will also sign a loan agreement of $5 million for the Kurram Tangi Integrated Water Resources Development Project.