| Islamabad: The Asian Development Bank (ADB) has approved a significant grant aimed at upgrading 900 kilometers of flood-affected roads in Khyber Pakhtunkhwa (KP), as reported on October 03.
Read: ADB pledges USD 2bn annual loan support to Pakistan
As per details, this initiative is part of three projects totaling USD 658.8 million aimed at enhancing infrastructure and connectivity in the region, which has been severely impacted by the devastating floods. Additionally, these projects focus on improving domestic resource mobilization, rehabilitating schools damaged by the August 2022 floods, and boosting agricultural productivity to enhance food security.
ADB Director General for Central and West Asia Yevgeniy Zhukov emphasised that this financing will aid Pakistan’s recovery from last year’s cost-of-living crisis and floods, steering the nation toward long-term sustainable growth.
The Improved Resource Mobilisation and Utilisation Reform Program, with a USD 300 million policy-based loan, aims to strengthen tax administration and public expenditure management. The Sindh Secondary Education Improvement Project will receive an additional USD 275 million to reconstruct up to 1,600 flood-damaged schools with climate-resilient designs, supporting learning recovery, especially for girls in vulnerable districts.
Read: ADB funds USD 320m project to improve KP’s rural road connectivity
Furthermore, an USD 80 million concessional loan will be allocated to the Khyber Pakhtunkhwa Food Security Support Project, enhancing food security and rural livelihoods. This project will provide essential agricultural inputs and training to smallholder farmers, focusing on women’s empowerment and improved nutrition. |
|
