ISLAMABAD, Pakistan: The Asian Development Bank (ADB) will provide $300 million to Pakistan for financing of Sustainable Energy Sector Reforms program.
In this regard, an agreement was signed by the Finance Minister Ishaq Dar and ADB’s Country Director Xiaohang Yang in Islamabad on Friday.
Under the agreement, the Asian Development Bank will assist Pakistan in improving reliability, affordability and sustainability of energy sector to support the economic growth.
While speaking on the occasion, the Finance Minister said that economy of Pakistan has been rapidly developing. He said that Pakistan has a close partnership with the ADB which has been providing assistance to Pakistan in several projects.
Ishaq Dar said that energy sector is central to this program and our efforts in this sector will impact the overall economic progress of the Country. He said that our focus is an actionable and credible program that can be supported over the medium term by the ADB.
The finance minister said that the ADB is appreciative of the achievements Pakistan has made so far to overcome the challenges of energy sector.
On the occasion, the Country Director ADB Xiaohang Yang said that agreement is important as Pakistan is making compressive efforts to end the energy crisis.
