ADB commits $6bn funding for Pakistan

[BHarwana]

Asian development Bank (ADB) has committed $6bn in financing for Pakistan’s infrastructure developments over the next three years under its upcoming country partnership strategy, sources said yesterday.
“The ADB has been preparing three years’ CPS for 2019-2021 with resource allocation of $6bn ($2bn on each year basis),” said a well-placed source privy to meetings between Werner Liepach, director general (DG) for Central and West Asia Department ADB and the government officials.
“The purpose of DG’s visit (was) to align priorities in accordance with the manifesto of newly-elected PTI- (Pakistan Tehreek-e-Insaf) led regime.”
The sources said the visiting DG ADB who has flown back after three-day visit, expressed concerns over some projects of China-Pakistan Economic Corridor (CPEC) during a meeting.
Mainline and Karachi Circular Railway (KCR) could not make much progress under CPEC.
Manila-based lender was interested to undertake KCR along with Japan International Co-operation Agency, they added.
The ADB is also interested to undertake financing of projects like bus rapid transport in Karachi, multibillion dollars Turkmenistan-Afghanistan-Pakistan-India gas pipeline and other infrastructure projects under the upcoming three years (2019 to 2021) country partnership strategy (CPS). The old CPS is going to cease its existence in 2018.
Liepach said the government has much more emphasis on social sector initiatives and is more inclined towards executing social sector initiatives through indigenous funding or soft grant options.
“ADB appreciates this approach and is strongly committed for future mutual co-operation keeping in view the government’s priorities by offering concessional funding,” an official statement quoted him as saying during a meeting with Secretary Benazir Income Support Programme (BISP) Omar Hamid Khan.
ADB also committed $300mn for BISP under its country operations business plan. “This funding will be used for up-scaling of the ongoing programmes and launching of new BISP initiatives, especially targeted towards poverty alleviation and gender empowerment,” the statement said.
Liepach said the portfolio review of the ADB financed projects of BISP would be accelerated to enable preparation for the upcoming projects.
Khan said ADB has a pivotal role in supporting women empowerment and poverty reduction in the country.
Meanwhile, ADB’s delegation met with the officials of the ministry of planning.
Planning Minister Makhdoom Khusro Bakhtiar seeks ADB’s further co-operation in education, health, water, energy and infrastructure especially under developed areas of the country.
Bakhtiar said the government is committed to take necessary measures to eradicate poverty, provide more education and healthcare facilities, ensuring equal opportunities of development and providing easy access through modern transportation with the special focus on under developed areas across the country.
“The government is working on the plans for low cost housing for a common man.” The minister said the national transportation policy and its implementation is one of the key priorities of the government.
The policy includes railway master and national highway authority plans, which would make the connectivity easier and cost effective offering more opportunities for business and trade and further act as the key enabler for sustainable development and growth.
Bakhtiar also informed the ADB’s delegation about the government’s vision of restructuring the public sector and improving the government for more efficient service delivery. The ADB yesterday also approved a $100mn loan to address chronic water shortages and increase earnings on farms in Balochistan.
The Balochistan’s water resources development sector project will focus on improving irrigation infrastructure and water resource management in the Zhob and Mula river basins.
Agriculture sector accounts for almost two-thirds of Balochistan’s economic output and employs 60% of the province’s 13mn population, but frequent drought and poor water management has put the industry, and those who rely on it, at risk.
Poverty rates in the province are almost double the national average.
“Agriculture is the backbone of Balochistan’s economy,” ADB Principal Water Resources Specialist Yaozhou Zhou said in a statement.



http://www.gulf-times.com/story/604924/ADB-commits-6bn-funding-for-Pakistan

 

[Quibbler]

Just a point of information. USA and allies are the majority stakeholder in ADB.

 

[BHarwana]

Just a point of information. USA and allies are the majority stakeholder in ADB.

Nope they are not.

 

[HttpError]

Just a point of information. USA and allies are the majority stakeholder in ADB.

Thanks for letting us all know this great piece of secret information and wasting the bandwidth on PDF.

 

[UKBengali]

Nope they are not.

Yes they are

Surprised to see that BD has 1% share in ADB

 

[Quibbler]

Thanks for letting us all know this great piece of secret information and wasting the bandwidth on PDF.

It is non intuitive to simpletons like you who orgasm on their keyboard every time they see common sense.

 

[AZADPAKISTAN2009]

Realistic Looks:

Who is Taking this Loan ? Pakistan $6,000,000,000 Dollars

• Where will the Gas line live ? Afghanistan , ok , may be Afghanistan should take the Loan Hit

TAPIline ----------------------------------------->This will drain Money from Economy

<CANCEL IT OR LET AFGHANISTAN BEAR 100% COST>
​

• This serves national interest for Afghanistan, Pakistan is a customer to gas , and customers don't pay for infrastructure

Example: If I Got to Supermarket (big one) , as customer I don't pay the cost to make that shopping plaza if someone tells me give them Money or take loan so shopping plaza can be built , and I will go shop give more money to it later ?????? It is a SCAM


Pakistan has better option

• Iran-Pakistan Gas pipeline, on our door step and we can connect the pipe by local laborforce and lay the pipe to main terminals inside Pakistan (We can likely finish it with 100 Million and local labor force)

• We are also getting Gas from Qatar already

The 6 Billion Dollar can help us fast track

a) Kala Bagh Dam (3 Billion) ---------------------->This will make us Money/Water
b) Revival of Pakistan Steeles Mills (2 Billion) ----->This will make us Money/Water
c) Revival of PIA (1 Billion) ------------------------->This will make us Money/Water

 

[FuturePAF]

Realistic Looks:

Who is Taking this Loan ? Pakistan $6,000,000,000 Dollars

• Where will the Gas line live ? Afghanistan , ok , may be Afghanistan should take the Loan Hit

TAPIline ----------------------------------------->This will drain Money from Economy

<CANCEL IT OR LET AFGHANISTAN BEAR 100% COST>
​

• This serves national interest for Afghanistan

Pakistan has better option

• Iran-Pakistan Gas pipeline, on our door step and we can connect the pipe by local laborforce and lay the pipe to main terminals inside Pakistan

• We are also getting Gas from Qatar already

The 6 Billion Dollar can help us fast track

a) Kala Bagh Dam (3 Billion) ---------------------->This will make us Money/Water
b) Revival of Pakistan Steeles Mills (2 Billion) ----->This will make us Money/Water
c) Revival of PIA (1 Billion) ------------------------->This will make us Money/Water

Smaller Initiatives will show more rapid improvements, and provide faster economic growth.
Mega projects like the pipeline should be undertaken only when Afghanistan has laid pipeline up to our border as Iran did.

If the Asian Development bank and attached experts fund water management improvements, it will nearly double water available. We have already surveyed our country via satellite for where water is being used and how much it is working. Investing in drip irrigation, and lining canals in the most leaky areas will maximize water availability and open up more land to cultivation, increasing our agricultural output. we can also use our own resources to crack down on water thieves; large land owners who divert the water beyond what they are rightfully allocated or should be allocated.

This is in line with the concerns of Sindh which needs enough water flowing to prevent encroaching salinity in the delta.

$6 Billion for this will be money well spend. It can be spent quickly as each local area has projects which can be worked on simultaneously. The results will be rapid as well, year on year so people can see improvements and push for more and more of the same. The improvements can also teach people and our government what techniques are best when other money becomes available to pay for more conservation.

 

[AZADPAKISTAN2009]

Simple logic

• Invest in projects that will make money from money

 

[AGENT-47]

Realistic Looks:

Who is Taking this Loan ? Pakistan $6,000,000,000 Dollars

• Where will the Gas line live ? Afghanistan , ok , may be Afghanistan should take the Loan Hit

TAPIline ----------------------------------------->This will drain Money from Economy

<CANCEL IT OR LET AFGHANISTAN BEAR 100% COST>
​

• This serves national interest for Afghanistan, Pakistan is a customer to gas , and customers don't pay for infrastructure

Pakistan has better option

• Iran-Pakistan Gas pipeline, on our door step and we can connect the pipe by local laborforce and lay the pipe to main terminals inside Pakistan (We can likely finish it with 100 Million and local labor force)

• We are also getting Gas from Qatar already

The 6 Billion Dollar can help us fast track

a) Kala Bagh Dam (3 Billion) ---------------------->This will make us Money/Water
b) Revival of Pakistan Steeles Mills (2 Billion) ----->This will make us Money/Water
c) Revival of PIA (1 Billion) ------------------------->This will make us Money/Water

Completely agree. TAPI has been advocated by USA even since before 9/11... something is too fishy about it...

 

[Azog]

Simple logic

• Invest in projects that will make money from money

Investing in human and social developmemt is also good investment. If you have more skilled workers, then more chances of industrization.

There are not going to spend like you are saying, mostly going to be used to uplift the quality of life.

 

[AZADPAKISTAN2009]

It is not our interest to put a dime in this project

Someone want to sell us gas , they need to build whole infrastructure to bring us the gas , we will then pay you when we use the gas

(If we use that gas)

This is one of those bird brain projects envisioned in Nawaz's time..........


Like make Power project and import fuel from outside crap ideas

 

[pzfz]

Oh look, Pak engaging with the interest-loving international financial institutions! This is against the ideology of Pak and against Islam!

 

[AZADPAKISTAN2009]

Cancel the TAPI deal and take money invest in other project which make Pakistan money

Us the Asian Development fund for Project which is 100% inside Pakistan
Qatar gas is doing great and if needed we can get gas from Iran

• Kalabagh Project (3 Billion) (Start digging for DAM)
• Steeles Mills (2 Billion ) (Cancel debt by using 25% , Use 75% for modernization)
• PIA revival (1 Billion) (Cancel debt by using 25%, Use 75% for making it profitable)

Let Afghanistan borrow cash on their own name , to make a pipeline to bring us gas we can pay them small fee (transit fee for pipeline)