Text Version
RSS Feeds
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  -Text Version
  -RSS Feeds
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
ADB to provide $780 mln to finance energy program in Pakistan
+ -
19:54, September 17, 2009

 Related News
 ADB report: China's corporate bonds surge 90.9% in first half
 Developing Asia bond market expands 12.8% in first half: ADB
 China Everbright gets ADB funding
 China gets ADB loans to clean up urban garbage
 ADB: Asia's development progress weighed down by crisis
 Comment  Tell A Friend
 Print Format  Save Article
The Asian Development Bank (ADB) is extending 780 million U.S. dollars in loans to Pakistan through a multi-tranche financing facility for priority energy efficiency projects that will secure the country's growing energy needs and reduce its reliance on costly, polluting fossil fuels.

Cofinancing equivalent to 150 million U.S. dollars will be provided by Agence Francaise de Developpement, with the government financing 200 million U.S. dollars equivalent.

The ADB said the 1.18 billion-U.S.-dollar Energy Efficiency Investment Program underpins Pakistan's first-ever initiative to make both the pursuit of energy security and low-carbon growth a single strategic priority.

The program will help the government reduce public expenditures and subsidies, easing the debt problem in the power sector which has weighed on attempts at improvements in the past, the ADB said.

It also removes financial barriers to investment in clean energy technology, opening the way for increased private sector involvement with ADB, and other development partners.

Source: Xinhua

  Your Message:   Most Commented:
Why India is pursuing military strength?
World's top ten most mysterious and horrible spots
Baby alien found by Mexican farmer
Which country has the most beautiful women?
Indian media stinks up public opinions

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved