KARACHI: The Asian Development Bank (ADB) wants to enhance its funding for infrastructure development projects in Pakistan to $1 billion per year, said ADB Country Director Werner E Liepach.
While talking to the media at a seminar on “business opportunities”, organised by ADB in collaboration with Association of Consulting Engineers Pakistan (ACEP) here on Wednesday, he said that currently ADB’s funding is averaging at $600 to $700 million.
“We want to scale up our funding for infrastructure development, focus on project assistance and work closely with the construction industry”, he noted. Liepach said the purpose of this seminar was to give information to consultants about the bidding procedures which are one of the problem areas and result in delays in projects and cost overrun.
Responding to a question about the proposed ADB project to connect Pakistan and Central Asia through trade corridor, he said it was in the pipeline.
He said land settlement issues and cost need to be addressed for the construction of Peshawar-Torkham corridor while the projects pertaining Jalalabad and Kabul road and ring road in Kabul are being reviewed. This corridor when completed will be connected to Central Asian Republics, he observed.
He said that ADB was also providing financial guarantees to wind projects in Sindh and about three to four such projects with 50 megawatts each will be on stream shortly.
ACEP President Inam Osmani, in his welcome address, said that ADB has provided financing of $20.8 billion for infrastructure development in Pakistan.
He said that ADB has recently announced a funding of $650million for flood emergency reconstruction in roads and irrigation network.
Published in The Express Tribune, September 29th, 2011.
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ