Asian Development Bank Extends $180 Million Loan to Bolster Pakistan’s Urban Infrastructure

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On Tuesday, the Asian Development Bank announced its approval of a $180 million loan dedicated to enhancing water supply and solid waste management services in two cities within Pakistan’s Punjab province.

Yevgeniy Zhukov, the ADB Director General for Central and West Asia, stated, “This project will contribute to the sustainability, resilience, and reduced carbon footprint of municipal services in these two cities.”

The initiative targets the cities of Rawalpindi and Bahawalpur, forming part of a broader financial commitment of $10 billion from various donors to aid Pakistan’s recovery from the severe floods witnessed last year. The devastating floods, exacerbated by global warming according to scientists, impacted over 33 million individuals and claimed the lives of more than 1,700 between mid-June and mid-November, marking the monsoon season.

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Key contributors to the recovery efforts include the Islamic Development Bank, pledging $4.2 billion, the World Bank with $2 billion, Saudi Arabia providing $1 billion, and additional support from the European Union, China, France, and the United States.

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