Pakistan and the Asian Development Bank (ADB) have signed agreements for two significant development projects, officials confirmed.
According to a spokesperson from the Economic Affairs Division, ADB will provide Pakistan with $730 million for key development initiatives. In addition, a $330 million Second Power Transmission Project was also finalized.
The transmission project is expected to facilitate the delivery of 2,300 megawatts of electricity generated from hydropower plants. Meanwhile, the $400 million transformation program aims to ensure effective implementation of the State-Owned Enterprises (SOEs) Act and related policies.
ADB Country Director, Ema Fan, praised the Government of Pakistan’s strong commitment to these initiatives, highlighting the proactive steps being taken to improve the country’s energy infrastructure and institutional framework.
These agreements mark a significant step forward in strengthening Pakistan’s power sector and enhancing governance in state-owned enterprises.
