KARACHI: The Asian Development Bank (ADB) and Pakistan on Friday signed an agreement for a $250 million loan that would help drive sustainable investments in the country’s infrastructure and services sectors, the Pakistan chapter of the bank confirmed.
The ADB announced on June 5 that it had approved a $250 million policy-based loan to help drive investments in Pakistan’s infrastructure and services sector through public-private partnerships (PPPs).
“ADB Country Director for Pakistan Yong Ye and Secretary Economic Affairs Division of Pakistan Kazim Niaz today signed the agreement for $250 million policy-based loan,” ADB Pakistan wrote on social media platform X.
In its earlier press statement on June 5, ADB said its PPP program supports the implementation of government policies to create a fiscally affordable environment for public-private partnerships, apart from promoting economic growth. 
“The reforms will facilitate efficient infrastructure planning and promote sustainable development practices in infrastructure projects, such as climate risk screening and gender considerations in project feasibility assessments and PPP contracts,” ADB Director-General for Central and West Asia Yevgeniy Zhukov had said.
The regional development bank has committed over $52 billion to Pakistan, one of its founding members, since 1966 in public and private sector loans, grants, and other forms of financing to promote inclusive economic growth in the country.
In December 2023, the ADB approved three projects totaling $658.8 million to improve Pakistan’s domestic resource mobilization, rehabilitate schools damaged by the devastating August 2022 floods, and enhance agricultural productivity to improve food security.