Arab Today, arab today adb extends 400m loan to pakistan
Last Updated : GMT 16:53:47
Arab Today, arab today
Arab Today, arab today

ADB extends $400m loan to Pakistan

Arab Today, arab today

Arab Today, arab today ADB extends $400m loan to Pakistan

Islamabad - XINHUA

The Asian Development Bank (ADB) has approved a 400 million U.S. dollar loan to support Pakistan's ongoing reform to tackle the country's chronic energy crisis which has crippled industries and caused social unrest, the ADB said here Thursday. Pakistan's economy has been devastated by chronic power shortages which are estimated to have slowed GDP growth by at least 2 percentage points a year. Private investment has been sharply reduced and power sector subsidies have caused high fiscal deficits and elevated public debt. The government is implementing the National Power Policy which was approved in July 2013 to resolve these problems. Building on the firm commitment of the government to reforms exemplified in this policy, ADB, Japan and the World Bank have worked with the government to develop a five-year plan and set milestones to implement the policy. ADB is the lead development organization in Pakistan's energy sector supporting energy efficiency, transmission, distribution, cross-border natural gas pipelines, power generation, and renewable energy projects, a statement from the ADB office in Islamabad said. The sustainable energy sector reform program will support the overhaul of existing tariffs and subsidies as the government moves to eliminate subsidies by 2016, except for low income customers. It will also back reforms to reduce power losses and encourage more involvement from the private sector and improve transparency and accountability. The full program is expected to total 1.2 billion dollars, with future amounts subject to further discussions between ADB and the government. For the first sub-program, cofinancing from Japan of 5 billion yen (49 million dollars) and the World Bank of 600 million dollars is expected. The full program is due for completion by June 2018. "The loan is part of an assistance program which will underwrite reforms needed to make the energy sector affordable, reliable, sustainable and secure," said Klaus Gerhaeusser, the Director General for Asian Development of ADB. "This in turn will accelerate industrial activity needed to boost economic growth and help create jobs, which are key to reducing poverty level, " the statement quoted Gerhaeusser as saying.

arabstoday
arabstoday

GMT 21:04 2017 Monday ,18 September

Dollar exchange rate stable at major banks

GMT 19:07 2017 Monday ,18 September

Inflation slump to hit in early 2018: ECB

GMT 20:35 2017 Sunday ,17 September

Dollar exchange rate stable at major banks

GMT 05:53 2017 Saturday ,16 September

ECB fines rescued Italian bank 11.2 mln euros

GMT 11:43 2017 Tuesday ,12 September

US sues ex-Deutsche Bank exec for securities fraud

GMT 12:03 2017 Sunday ,10 September

Bahrain introduces mandatory IESCA
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today adb extends 400m loan to pakistan Arab Today, arab today adb extends 400m loan to pakistan

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today adb extends 400m loan to pakistan Arab Today, arab today adb extends 400m loan to pakistan

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today A no-frills business success

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel sees benefits in independent Kurdistan

GMT 07:58 2017 Wednesday ,20 September

Israel sees benefits in independent Kurdistan
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Horia Farghaly happy for success of “Case G”

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 11:40 2017 Monday ,18 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday