ADB approves $300m loan for Pak province
Friday, 5 December 2008
MANILA, Dec 4 (AFP): The Asian Development Bank (ADB) has approved a loan package to Pakistan's populous Sindh province that could be worth up to 300 million dollars, the Philippines-based lender said today.
The loan is designed to upgrade water services in the province's secondary cities, an ADB statement said.
While about half the Sindh population lives in the major cities of Karachi and Hyderabad, six million people live in more than 20 secondary cities, where deficient basic urban services stifle economic growth, it added.
The first tranche of 38 million dollars will be used in the cities of Sukkur, New Sukkur, Rohri, Khairpur, Shikarpur and Larkana, the bank said.
The loan is designed to upgrade water services in the province's secondary cities, an ADB statement said.
While about half the Sindh population lives in the major cities of Karachi and Hyderabad, six million people live in more than 20 secondary cities, where deficient basic urban services stifle economic growth, it added.
The first tranche of 38 million dollars will be used in the cities of Sukkur, New Sukkur, Rohri, Khairpur, Shikarpur and Larkana, the bank said.