• ADB okays $540m for two Sindh projects
• WB commits $400m for Punjab’s schemes

ISLAMABAD: The Asian Development Bank (ADB) and the World Bank on Friday approved a total of $940 million to Pakistan for reforms in the state-owned entities (SOEs), water sector and safely managed water, sanitation and basic hygiene services.

Of the total, the Manila-based ADB will be providing about $540m in loan and grant while the Washington-based World Bank will be extending $400m.

The ADB said its board of directors approved two projects totalling $540m to accelerate SOE reforms in Pakistan and enhance disaster resilience in the coastal districts of Sindh. The financing comprises a $400m results-based loan for National Highway Authority (NHA) under the Accelerating SOE Transformation Programme and $140m concessional loan for Sindh Coastal Resilience Sector Project.

“The SOE reform programme for Pakistan seeks to improve governance and optimise the performance of Pakistan’s commercial SOEs, which are vital for the country’s economic stability and development,” said ADB Country Director for Pakistan Emma Fan.

“The programme will also prioritise restructuring and commercialisation of the NHA, one of the largest and most complex entities within........

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