Loans Given To Improve Electricity Situation In Pakistan
Loans Given To Improve Electricity Situation In Pakistan: Last year in December 2017, ADB loaned Pakistan $200m for various urban planning reforms in the Punjab province while $180m were given to help improve road traffic efficiency under the Central Asia Regional Economic Cooperation Corridor Development Investment Programme. (CARECCDIP)
ADB’s corporation with the government of Pakistan is aimed at improving living standards through quality investments in infrastructure. In this regard yesterday Asian Development Bank, to improve Pakistan’s power transmission network, signed a $260m loan agreement. This agreement is aimed at enhancing transparency and quality of power transmission expanding it in Sindh and Balochistan provinces.
ADB through giving their fiscal support shows the commitment to develop a stronger, smarter and climate resilient Electricity network in Pakistan that will give uninterrupted power supply boosting the economy, stated by the ADB director General for Central and West Asia, Werner Liepach.
The supervisory control and data acquisition (SCADA) system and revenue metering system (RMS) in which the computers, data communication and user interfaces is used for the management of the network will be improved enabling real time monitoring and control of the grid stations. This agreement will be reducing power outage and will help production of power from new and renewable power plants to the national grid.
ADB country director for Pakistan, Xiaohong Yang, and Syed Ghazanfar Abbas Jilani, secretary of the Economic Affairs Division (EAD) signed the agreement at a ceremony. Werner Liepach, ADB director general for Central and West Asia was also present during the occasion.
As per agreement, the Central Power Purchasing Agency (Guarantee) Limited will streamline revenue collection, billing and payment processes and will create the foundation for an energy trading platform enhancing Pakistan’s energy security.
ADB’s Business Plan 2018-2020 For Pakistan
The ADB last year shared country operations business plan for Pakistan for 2018-20 with loans amounting to $4.673 billion in loans in energy, transport, agriculture, water, public sector management, finance and social sectors.
In the energy sector, the 2018-20 country plan of ADB holds that a new $1bn multi-division financing facility for the hydropower development investment program will focuses on clean energy and hydropower generation.