The Asian Development Bank (ADB) has announced three new projects worth $658.8 million in Pakistan, aiming to support the country’s inclusive and sustainable growth and development.
The projects will improve tax collection and public spending, rebuild schools damaged by the 2022 floods, and enhance agricultural productivity and food security.
Improved Resource Mobilization and Utilization Reform Program: This $300 million policy-based loan will help the government implement reforms to policies, laws, and institutions that will improve domestic resource mobilization and utilization. The program will support the transformation of tax administration, public expenditure management, and other institutional structures to increase non-debt resources such as private investment and savings.
Sindh Secondary Education Improvement Project: This project will receive additional financing of $275 million as part of ADB’s $1.5 billion pledge of support for Pakistan’s recovery from the 2022 floods. The loan will help reconstruct up to 1,600 flood-damaged schools using disaster- and climate-resilient and gender-responsive designs. The project will also provide a $800,000 technical assistance grant to help plan and monitor the reconstruction and introduce inclusive design features.
KP Food Security Support Project: This $80 million concessional loan, also part of ADB’s $1.5 billion pledge, will help address climate vulnerabilities, enhance food security, and boost the livelihoods of rural farm households in the most flood-damaged districts in the province. The project will provide essential agriculture inputs and training to smallholder farmers, including women, and improve household nutrition and women’s empowerment.
It will also enhance digital access and availability, especially with regard to market opportunities and climate information. ADB will also administer a $3 million grant from the Japan Fund for Prosperous and Resilient Asia and the Pacific that will finance activities for women farmers related to seed cleaning and the safer handling of agrochemicals.
The ADB said that these projects are part of its strategic engagement in Pakistan and cohesively deploy its program lending and project investments to enhance support for Pakistan’s efforts to improve its economic situation and enhance the quality of life for its people.
