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Pakistan receives $400 to carry energy sector reforms

ISLAMABAD: The Asian Development Bank (ADB) issued $400 million to Pakistan on Saturday in order to overcome the energy crisis of the country, ARY News reported.

The ADB had approved $400 million for Pakistan on April 24, 2014 and an agreement to this effect was signed on April 28th at the Finance Ministry.

The loan will be utilized to carry out reforms in the energy sector allowing electricity supply at cheap rates.

According to Finance Minister Ishaq Dar, coal power projects will be set up in different parts of the country with the help the soft loan which is virtually a free loan and reflected the trust of the international community in the government's efforts to improve the economy.

 

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