Monday, May 23, 2022

ADB okays $385m for mega projects in five KP cities

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Asian Development Bank (ADB) on Thursday approved $385 million in financing to help improve livability and community health in five cities of Khyber Pakhtunkhwa.

According to an ADB press statement, the cities include Abbottabad, Kohat, Mardan, Mingora, and Peshawar.

This project will help to improve access to clean and safe water, reliable and integrated waste management and sanitation services, green urban spaces, and gender-friendly urban facilities.

“More than 3.5 million people will benefit from improved access to clean and safe water, reliable and integrated waste management and sanitation services, green urban spaces, and gender-friendly urban facilities,” read the ADB statement.

Also Read: ADB approves $235mn loan to Pakistan for N-55 carriageway upgradation

Earlier, the Asian Development Bank (ADB) had approved $603 million loan to help strengthen and expand the government’s ambitious Ehsaas social protection programme.

Using conditional cash transfers, the programme will support the implementation of Ehsaas, Pakistan’s national social protection and poverty reduction strategy.

Also Read: ADB forecasts Pakistan’s economy to grow 4pc in FY22

“Under the Integrated Social Protection Development Program, ADB will provide a regular loan of $600 million and a $3 million grant from the Asian Development Fund, and will administer a $24 million grant from the Education Above All Foundation,” a statement by the ADB said.

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