Asian Development Bank

Pakistan, ADB Near $2 Billion Financing Deal for ML-1 Project

Pakistan, ADB Near $2 Billion Financing Deal for ML-1 Project

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KARACHI: Pakistan’s negotiations with the Asian Development Bank (ADB) for a proposed $2 billion loan to finance the first phase of the Main Line-1 (ML-1) railway upgradation have reached an advanced stage, officials familiar with the discussions said on Wednesday. The 480-kilometer Karachi–Rohri section forms part of the broader $7 billion ML-1 project, a flagship scheme under the China-Pakistan […]

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Pakistan, ADB Sign development agreements worth $257 million

Pakistan, ADB Sign development agreements worth $257 million

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ISLAMABAD: Pakistan and the Asian Development Bank have finalized and signed development agreements totaling 257 million dollars. The agreements were signed by Secretary Economic Affairs Muhammad Hameer Karim and ADB Country Director Emma Fan, while the Punjab Secretary of School Education and the Secretary of Specialized Healthcare signed on behalf of the Punjab government. According

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ADB approves $381 million for agriculture, education, and health projects for Pakistan

ADB approves $381 million for agriculture, education, and health projects for Pakistan

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ISLAMABAD: The Asian Development Bank (ADB) has approved three major projects worth a combined $381 million to support agriculture, education, and health sectors in Pakistan’s Punjab province. The new investments aim to accelerate Punjab’s development by promoting modern, climate-resilient farming, upgrading education systems, and strengthening the health workforce. The bank stated that these initiatives would

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ADB approves $48m for water management in Balochistan

ADB Approves $48m For Water Management in Balochistan

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ISLAMABAD: The Asian Development Bank (ADB) has approved an additional $48 million for Water Resources Development Sector Project to improve water management in Balochistan and irrigation in Pakistan’s largest province. The new funding will complete delayed components, including the Churi Infiltration Gallery, the Siri Toi Dam command area, and watershed management works. These steps aim

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Water crisis in Balochistan shrinks cultivated area to 7pc: Report

Water Crisis in Balochistan Shrinks Cultivated Area to 7pc: Report

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QUETTA: The Asian Development Bank (ADB) has warned of an extreme water crisis in Balochistan province. The ADB report said that the worsening water shortage reduced the cultivated land to only 7 percent of the province’s total land. According to ADB, a new digital water and weather monitoring system has been installed in the province

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Major breakthrough for Reko Diq copper-gold project

Major breakthrough for Reko Diq copper-gold project

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ISLAMABAD: Significant progress has been reported on the multibillion-dollar Reko Diq copper and gold mining project, which carries an estimated total cost of more than 10 billion US dollars. In Balochistan news updates, A key agreement for laying a 1,350-kilometre railway track is scheduled to be signed on October 2. In addition, a bridge-financing deal

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Pakistan secures $6b for Reko Diq copper-gold project

Pakistan secures $6b for Reko Diq copper-gold project

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ISLAMABAD: The Reko Diq copper-gold project has secured $6 billion in funding from the United States, Japan, and top global financial institutions. The Asian Development Bank (ADB) and the World Bank have already approved $1.05 billion. The Special Investment Facilitation Council (SIFC) brokered the deal. It marks Pakistan’s largest-ever foreign investment. Officials call it a

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Reko Diq nears $6bn financing deal for copper-gold project in Balochistan

Reko Diq nears $6b financing deal for copper-gold project in Balochistan

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QUETTA: Reko Diq Mining Company is close to finalising financing for its copper and gold project in Balochistan. Commitments stand at around $6 billion—almost double the amount needed for phase one. The package includes $500 million in support from the United States, The Express Tribune reported. Multilateral lenders have cleared more than $1 billion. The

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