Islamabad—Asian Development Bank (ADB) agreed on Tuesday to provide a loan of US $197.85 million for Sindh Provincial Roads Improvement Project. A signing ceremony in this regard was held here which was witnessed by Finance Minister Senator Mohammad Ishaq Dar. The loan agreement was signed by Asian Development Bank’s Country Director, Asian Development Bank (ADB) Werner E. Liepach and Secretary Economic Affairs Division Tariq Bajwa on behalf of government of Pakistan.
Speaking to media on the occasion, the Finance Minister said this was a concessionary loan being provided by the ADB and it would hold even less than one per cent spread. He thanked ADB for providing vital support to Pakistan particularly in the transport, energy and irrigation sectors. He assured Pakistan’s commitment to mobilize all possible resources for improving and developing transport sector and inter- provincial linkages for enhanced local connectivity. He mentioned that connectivity would generate economic activity for the progress of people of Sindh.
The project would help in rehabilitation and upgradation of roads in Sindh, particularly in Sanghar, Mirpur Khas, Badin, and Kashmore districts. In addition, it would also serve to strengthen the institutional capacity of Works and Services Department, Government of Sindh in project management, road planning and maintenance as well as in ensuring road safety, Ishaq Dar added.