$3bn ADB funding for Pakistan

[farhan_9909]

ISLAMABAD: Pakistan is likely to get over $1 billion a year for development projects during the three-year period (2015-17) of the ‘Country Business Plan’ of Asian Development Bank (ADB), a ‘quarterly portfolio performance review’ meeting was informed on Tuesday.

Secretary, Economic Affairs Division, Muhammad Saleem Sethi, and ADB Country Director, Werner E. Liepach jointly chaired the meeting.

The review concluded that in 2014 there was good progress in expanding the portfolio. From $4.49bn in 2013, it increased to $5.51bn by the end of 2014, including resumption of policy based lending.

In 2014, the Economic Affairs Division and ADB signed six new projects, in addition to one policy-based lending in energy sector amounting to $400 million. During the year, the yearly disbursement was more than $850m which is the highest achievement since 2009.

ADB informed that active public sector portfolio amounts to $5.51bn as of December 31, 2014, including 24 projects and one policy-based lending. There are 21 active technical assistance projects amounting to $20.15m, including ten technical assistance projects approved in 2014 for $8.6m.

The review meeting also noted that the energy sector now comprises half of the Pakistan’s active portfolio and is likely to grow in the coming years. The remaining portfolio consists of transport (16 per cent), agriculture and natural resources (13pc), multi-sector (emergency project, 11pc), health and social protection (7pc), and water and other urban infrastructure and services (2pc).

$3bn ADB funding for Pakistan - Pakistan - DAWN.COM

 

[Dubious]

they better put that money to good use not in the pockets!

 

[ravindra1455]

this is a plan to addict Pakistan for debt and at last weeken pakistan self reliance

 

[Jungibaaz]

they better put that money to good use not in the pockets!

Forget the pockets. Pakistanis like to cry about corruption, but they very easily forget the biggest waste of resources, inefficiency, misuse and mismanagement. Corruption plays a part, but I am confident that if Pakistani leaders weren't corrupt, they'd still be incompetent enough to do the damage themselves.

 

[ziaulislam]

now lets hope they use this money instead of paying penalties by not using it , as it has been doing in past couple of years

 

[Tameem]

Forget the pockets. Pakistanis like to cry about corruption, but they very easily forget the biggest waste of resources, inefficiency, misuse and mismanagement. Corruption plays a part, but I am confident that if Pakistani leaders weren't corrupt, they'd still be incompetent enough to do the damage themselves.

Absolutely; Lets all Pakistanis immigrates to UK/USA collectively

 

[Jungibaaz]

Absolutely; Lets all Pakistanis immigrates to UK/USA collectively

Sure you're most welcome, and also keep sending funds home that you couldn't otherwise spare to prop up a nation that can't seem to stand on it's own damn feet.

 

[Bobby]

Pakistan ki to nikal padi....enjoy ....have party

 

[pursuit of happiness]

they better put that money to good use not in the pockets!

its must be monitored ...

ISLAMABAD: Pakistan is likely to get over $1 billion a year for development projects during the three-year period (2015-17) of the ‘Country Business Plan’ of Asian Development Bank (ADB), a ‘quarterly portfolio performance review’ meeting was informed on Tuesday.

Secretary, Economic Affairs Division, Muhammad Saleem Sethi, and ADB Country Director, Werner E. Liepach jointly chaired the meeting.

The review concluded that in 2014 there was good progress in expanding the portfolio. From $4.49bn in 2013, it increased to $5.51bn by the end of 2014, including resumption of policy based lending.

In 2014, the Economic Affairs Division and ADB signed six new projects, in addition to one policy-based lending in energy sector amounting to $400 million. During the year, the yearly disbursement was more than $850m which is the highest achievement since 2009.

ADB informed that active public sector portfolio amounts to $5.51bn as of December 31, 2014, including 24 projects and one policy-based lending. There are 21 active technical assistance projects amounting to $20.15m, including ten technical assistance projects approved in 2014 for $8.6m.

The review meeting also noted that the energy sector now comprises half of the Pakistan’s active portfolio and is likely to grow in the coming years. The remaining portfolio consists of transport (16 per cent), agriculture and natural resources (13pc), multi-sector (emergency project, 11pc), health and social protection (7pc), and water and other urban infrastructure and services (2pc).

$3bn ADB funding for Pakistan - Pakistan - DAWN.COM

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Manual - Monitoring and Evaluation Guidelines Private Sector Projects Funded by ADB - African Development Bank
Operations - Project Design and Management | Asian Development Bank
Project Documents | Asian Development Bank

 

[Echo_419]

Forget the pockets. Pakistanis like to cry about corruption, but they very easily forget the biggest waste of resources, inefficiency, misuse and mismanagement. Corruption plays a part, but I am confident that if Pakistani leaders weren't corrupt, they'd still be incompetent enough to do the damage themselves.

Agreed we have the same issue with people in India,most of em think that Solving Corruption will end all our problems but they forget how Mismanagement & Incompetency are one of the major reasons for our Failings
On topic
Everything lies with the Implementation

 

[OrionHunter]

this is a plan to addict Pakistan for debt and at last weeken pakistan self reliance

I'm sure they know that when its pay-back time, things will get pretty sour.

The PML-N government is blindly adding to the country’s debt which has galloped to $149 billion, of which foreign debt is over $65 billion and domestic debt is about $84 billion as of July 2014.

The government must stop blind borrowing, generate revenue through progressive taxation and set up a debt audit commission to dig out illegitimate debts.

This was the crux of talks at a press briefing, organised by the Institute for Social and Economic Justice (ISEJ) Campaign for Abolition of Third World Debt (CADTM Pakistan) and Tax Justice Roundtable, in connection with Global Week of Action against IFIs (8-15 Oct) at the Lahore Press Club on Wednesday.

This makes every Pakistani under debt of $825. The current debt to GDP ratio is 64.27pc, violating the Fiscal Responsibility and Debt Limitation Act (FRDLA). This is a bleak situation. The Nawaz government is constantly taking new loans and stealing from people’s pockets through imposing heavy taxes and billing in order to repay the IFIs and creditors.

The government must stop blind borrowing, generate revenue through progressive taxation and set up debt audit commission to dig out illegitimate debts.”

Director ISEJ and Focal person CADTM-Pakistan, Abdul Khaliq, said Pakistan needs a financial system, which allows its people to hold their governments and IFIs accountable for their policies and actions. The people of Pakistan are less and less ready to bear the injustice at the hands of governments and lenders.

Poor people are being forced to contribute to pay back the loans, never spent on the masses’ welfare.

He said Pakistan was ruled, most of the time, by the IFIs-backed military dictators who directly governed the country for 32 years (during its 67-years life). These dictators not only undermined the democratic institutions in the country but also incurred heavy debt to Pakistan, with almost 80pc owed to IFIs, including the IMF, the World Bank and the Asian Development Bank.

The intermittent democratic stints and political leadership of Pakistan did not make any meaningful effort to get out of the clutches of the international financial institutions, pushing Pakistan gradually in vicious debt spiral. Rather rulers misused loans and misappropriated money was siphoned off.

More here.....Call for having debt audit commission - Newspaper - DAWN.COM

 

[ziaulislam]

That's the point debt is OK in this situation to get growth but using debt to cover inefficiency of taxation is not.? People talk that PPPP was the worse govt yet PML N performance has Ben no different