ADB to provide $400m to Sindh

KARACHI: The Asian Development Bank (ADB) will provide a soft loan of $400 million to the Sindh government for post-flood infrastructure development.

“Emergency funds are being sought from ADB and we had continuous sessions with bank officials to keep the work on a fast track,” said Adviser to the Sindh Chief Minister for Planning and Development Kaiser Bengali, while addressing a press conference here on Thursday.

He said that the loan will be reimbursed on soft terms and added that an agreement in this regard will be signed by the Economic Affairs Division shortly.

Bengali said that the funds will help improve the irrigation and road systems of the province and added that the provincial government had already released funds for the rehabilitation of people and infrastructure projects which will later be reimbursed by the federal government.

Published in The Express Tribune, March 4^th, 2011.