ADB to finance $6b for infrastructure projects in Pakistan

The Asian Development Bank on Tuesday approved a $6 billion loan to help build up Pakistan's dilapidated power network and other key infrastructure, Islamabad said.

Among the projects to be financed by the ADB are a 660MW coal-fired power plant in southern Pakistan, while funds will also be allocated for projects related to health, education and highway construction. "(The ADB) agreed to finance US$6 billion for the next five years in Pakistan," an economic affairs ministry statement said.

The funds would help Pakistan tackle a long-running electricity crisis. Along with the 660MW plant, the funds will be used for several hydroelectric dams that will each generate between 100 and 300 megawatts.