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Asian Bank to give $5.96bn in 2017-19

ISLAMABAD: The Asian Development Bank has proposed a sovereign lending programme amounting to $5.96 billion during the Country Operations Busin­ess Plan (COBP) 2017-19.

The new lending programme consists of $4.77bn from regular ordinary capital resources (OCR) lending and $1.2bn from concessional OCR lending (COL) and focuses on energy, transport, natural reso­ur­ces, water and urban infrastructure and services, and public sector management.

In addition to stand-alone projects, the sovereign lending programme comprises two policy-based progra­m­mes and seven multi-tranche financing facilities (MFFs). The indicative non-lending technical assistance programme for 2017 amou­nts to $12.2 million, including $7.0m from other sources.

The cost-sharing and fin­ancing parameters during 2017-2019 envisage a ceiling of 85 per cent for the loan portfolio and 90pc for the technical assistance portfolio, similar to current limits.

Being a group ‘B’ developing member country of ADB, Pakistan is eligible for regular OCR lending and for COL. The indicative reso­urces available during 2017-2019 for ADB’s sovereign operations amount to $4.6bn in loans, comprising $3.2bn in regular OCR lending operations and $1.1bn from COL.

The new business plan includes two bus rapid transit projects which will focus on improved public transport in Peshawar and Karachi.

Two stand-alone projects were added for 2017 and 2018 to support rehabilitation of selected national and provincial highways. These investments will complement programmed ADB assistance for improved efficiency of selected Central Asia Regional Economic Cooperation road and rail corridors in Pakistan.

Courtesy : Dawn News

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