ADB to Provide $6 Billion Aid to Pakistan Over the Next 3 Years

The Asian Development Bank (ADB) will provide Pakistan with $6 billion in aid over the next three years. During a briefing to the Senate Finance Committee, the ADB Country Director announced that the bank is developing a new strategy aimed at promoting knowledge and technology among its member countries. As part of this initiative, Pakistan will receive $2 billion in aid annually, with $2.8 billion of the total amount provided on soft terms.

The Country Director further mentioned that the bank has allocated $400 million for the construction of houses for flood-affected individuals in Sindh. Additional aid has also been provided for projects in energy, agriculture, and irrigation.

He praised ADB’s ongoing support, stating that the bank has always helped Pakistan and will continue to assist in improving economic management, addressing climate change challenges, and enhancing digital technology.

During the session, Senator Farooq H. Naek inquired whether ADB had financed the Peshawar BRT (Bus Rapid Transit) project and whether the National Accountability Bureau (NAB) had conducted investigations into it. In response, the Country Director stated that they had not been contacted regarding any investigations and were not aware of any. He explained that the bank conducts its investigations independently, and all matters are reported to the head office, which makes final decisions based on those investigations.