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ADB boosts lending levels to Pakistan, Bangladesh and Bhutan
Manila, Aug 07: The Asian Development Bank (ADB) said today that it will boost lending to Pakistan, Bangladesh and Bhutan over the next three years.
Manila, Aug 07: The Asian Development Bank (ADB) said today that it will boost lending to Pakistan, Bangladesh and Bhutan over the next three years.
Pakistan will be able to borrow $ 270 million more over three years with programmed lending of $ 2.67 billion between 2004 and 2006, the Manila-based bank said in a statement.
Lending to Bangladesh will rise by $ 11 million yearly compared to previous levels, boosting the three-year total to $ 1.21 billion.
ADB would lend Bhutan $ 28.2 million in soft loans over three years, "subject to assessments based on the country's performance and availability of funds".
Bhutan will also receive $ 4.05 million in technical assistance over three years, it added.
Islamabad will get more ADB support "in light of the government's concerned effort to implement an ambitious broad-based sectoral reform agenda, which has resulted in greater macroeconomic stability and policy reform in key sectors," the bank said.
It cited the government's effective debt management strategy, which has led to lower public debt in relation to its gross domestic product.
Pakistan will also receive technical assistance grants worth $ 16.1 million.
The Bangladesh loans will include $ 690 million from the ADB's soft loan facility, the Asian Development Fund. The government will also receive $ 15 million in technical assistance.
Bureau Report
Lending to Bangladesh will rise by $ 11 million yearly compared to previous levels, boosting the three-year total to $ 1.21 billion.
ADB would lend Bhutan $ 28.2 million in soft loans over three years, "subject to assessments based on the country's performance and availability of funds".
Bhutan will also receive $ 4.05 million in technical assistance over three years, it added.
Islamabad will get more ADB support "in light of the government's concerned effort to implement an ambitious broad-based sectoral reform agenda, which has resulted in greater macroeconomic stability and policy reform in key sectors," the bank said.
It cited the government's effective debt management strategy, which has led to lower public debt in relation to its gross domestic product.
Pakistan will also receive technical assistance grants worth $ 16.1 million.
The Bangladesh loans will include $ 690 million from the ADB's soft loan facility, the Asian Development Fund. The government will also receive $ 15 million in technical assistance.
Bureau Report