Pakistan, ADB sign $167.2m loan agreement
The agreement was signed by Secretary Economic Affairs Division and ADB Country Director.
Pakistan and Asian Development Bank today (Wednesday) signed 167.2 million dollar loan agreement in Islamabad for Power Distribution Enhancement Investment Program.
The agreement was signed by Secretary Economic Affairs Division Nargis Sethi, and ADB Country Director Werner E. Liepach.
The project aims to reduce the overloading and increase the capacity of the power distribution system in the project area through system augmentation and expansion.
Speaking on the occasion, Secretary EAD Nargis Sethi said the objective of the Investment Program is to provide adequate and reliable power supply to a greater number of industrial, commercial and residential consumers.
Country Director, ADB Werner E. Liepach resolved that Pakistan and ADB’s development partnership will continue to grow further in the coming days.