Islamabad, October 24, 2016 (PPI-OT):Central Asian countries have identified power investment needs of about $94 billion to 2023, according to an Asian Development Bank (ADB)-commissioned study presented at an energy forum today in Islamabad. Further, the financing gap that the private sector has to fill in the same period amounts to about $38 billion. The …

Ashgabat, April 07, 2016 (PPI-OT):The shareholders of the TAPI Pipeline Company Limited (TPCL) signed an Investment Agreement today in a ceremony witnessed by petroleum ministers and senior government officials of Turkmenistan, Afghanistan, Pakistan and India, and senior Asian Development Bank (ADB) officials. It will pave the way for long-term natural gas supplies that will give …

Islamabad, December 04, 2015 (PPI-OT): The Asian Development Bank (ADB) has approved a $250 million loan to boost cross-border trade activity with its neighboring countries by reducing customs processing time for cargo and goods at the three key border points of Charman, Torkham, and Wagha. “Customs operations have improved substantially since 2010, but border point …

Manila, August 25, 2015 (PPI-OT): The Asian Development Bank (ADB) has approved a new country partnership strategy (CPS) with Pakistan for 2015-2019 with a provisional assistance package of at least $1.2 billion a year on average, which will focus on infrastructure upgrades and institutional reforms. “The main challenge in Pakistan is to deliver higher, sustained, …

Manila, June 30, 2015 (PPI-OT): The Asian Development Bank (ADB) has approved assistance of over $220 million to help Pakistan rebuild and upgrade roads, bridges and other high-priority infrastructure damaged by the devastating 2014 floods. “Pakistan is highly dependent on agriculture and prone to floods and other extreme weather related-events like the current severe heat …

Manila, May 18, 2015 (PPI-OT): The Asian Development Bank (ADB) is providing loan assistance of up to $65 million for a new private sector hydropower project in Pakistan which will continue the country’s drive to overcome power shortages, and strengthen its energy security. “Severe power shortages remain a major constraint on Pakistan’s economy, and scaling …

Islamabad, April 17, 2015 (PPI-OT): The Asian Development Bank (ADB) and Pakistan today signed a loan of $42.9 million for upgrading water management and irrigation systems in Pakistan’s Federally Administered Tribal Areas (FATA), paving the way for the conflict affected tribal communities to increase their farmland productivity and income. Mohammad Saleem Sethi, Secretary Economic Affairs …

Manila, February 27, 2015 (PPI-OT): The Asian Development Bank (ADB) has approved a $30 million project loan to Engro Elengy Terminal Private Limited, a special purpose company which will build Pakistan’s first liquefied natural gas (LNG) regasification terminal. “Pakistan urgently needs to utilize its existing power generation capacity fully, while reducing its reliance on costly …