News Update
Asia's significance and contribution to global issues of energy, climate change and sustainable development has been steadily growing. The update highlights some of the major news stories from various Asian countries offering an overview of the issues, prospects and challenges in the region.
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| Pakistan, ADB ink US $242 million to improve power distribution system |
| Associated Press of Pakistan, 28 January 2011 |
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Pakistan and Asian Development Bank (ADB) signed an agreement to invest US $242 million in improving power distribution system in the country. The signing ceremony was held here at Economic Affairs Division. The agreement was signed by Mr Sibtain Fazal Halim, Secretary Economic Affairs Division and Mr Rune Stroem, country director ADB, while the project agreement was signed by the representatives of all the 8 Distribution Companies (DISCOs). The loan is meant for Tranche-2 of the Power Distribution Enhancement Investment Programme under Multi-tranche Financing Facility (MFF). ADB’s total MFF programme is of US $810 million (US $ 800 million OCR and US $10 million ADF). The programme is comprised of Multi-tranches and the same will be implemented in ten years period. The objective of the project is to rehabilitate, augment and expand power distribution systems and remove system bottlenecks in the project area.
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