Pakistan inks $730m financing deals with ADP

Pakistan has snapped up two financing agreements worth a total of $730 million with the Asian Development Bank (ADB), according to the Ministry of Economic Affairs, ARY News reported.

According to the Spokesperson for Economic Affairs, one of the agreements signed between Pakistan and ADB involves a $330 million Second Power Transmission Project, which will enable the transmission of up to 2,300 megawatts of electricity.

The second pact, valued at $400 million, relates to the transformation program for state-owned enterprises (SOEs).

The Secretary of Economic Affairs of Pakistan stated that the program will support the implementation of the SOE Act and related policies.

According to the spokesperson, ADB’s Country Director for Pakistan, Emma Fan, praised the government’s commitment to economic reforms. She said the program would further strengthen efforts to reform state-owned enterprises and enhance institutional performance.

ML-1 project agreement finalized with ADB

Earlier in December 2025, the Federal Minister for Pakistan Railways, Muhammad Hanif Abbasi has also announced that an agreement for the ML-1 project has been finalized with the Asian Development Bank (ADB), describing it as a major step towards modernising the country’s rail network.

Speaking during a meeting in Islamabad with Defence Secretary Lieutenant General Muhammad Ali, Minister Hanif Abbasi stated that concrete measures were now being taken to complete the project at the earliest possible time.

The meeting was also attended by Secretary Power Division Dr Fakhar Alam Irfan and Director General of the National Logistics Cell, Major General Farrukh Shehzad Rao.

The Federal Minister Hanif Abbasi stated that Pakistan’s first Safe and Smart Railway Station has been established in Rawalpindi, featuring a 24/7 Artificial Intelligence–based monitoring system with 184 modern surveillance cameras, significantly strengthening the security and monitoring mechanism.

As part of a broader digitisation drive, he said a Rail Tag system had been introduced to allow real-time tracking of trains and rolling stock, a move aimed at improving transparency and efficiency.