{"id":1999,"date":"2016-08-24T14:19:16","date_gmt":"2016-08-24T04:19:16","guid":{"rendered":"http:\/\/leadpakistan.com.pk\/news\/?p=1999"},"modified":"2016-08-24T14:19:16","modified_gmt":"2016-08-24T04:19:16","slug":"adb-approves-810-mln-for-pakistan","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/adb-approves-810-mln-for-pakistan\/","title":{"rendered":"ADB approves $810 mln for Pakistan"},"content":{"rendered":"<p>MANILA (INP) The Asian Development Bank (ADB) has approved an $810 million multi-tranche financing facility to develop Pakistan\u2019s power transmission system, to improve the reliability and quality of energy supply, and to meet increasing demand for electricity.<br \/>\n\u201cA reliable and sustainable power sector is critical to the economic growth and wellbeing of Pakistan,\u201d said Megan Wolf, Energy Specialist with ADB\u2019s Central and West Asia Department. \u201cFast implementation of this facility and related reforms to alleviate power shortages will improve the prospects for the economy.\u201d<br \/>\nThe loan facility will help fund the staged rehabilitation and expansion of the transmission network, increasing transmission capacity and energy efficiency and security. It will also support government efforts to develop a more transparent and efficient power sector by promoting reforms in the National Transmission and Despatch Company Limited, and the sector\u2019s newly established commercial operator, the Central Power Purchasing Agency (Guarantee) Limited. ADB\u2019s facility will be delivered in tranches, implemented from 2016 to 2026.<br \/>\nPower shortages are a major obstacle in Pakistan\u2019s economic development. With demand for electricity outpacing supply, inefficient and inadequate transmission and distribution systems are key bottlenecks in the development of the energy sector that is stifling growth and threatens social strife.<br \/>\nADB is Pakistan\u2019s largest development partner in the energy sector with investments including five multi-tranche financing facilities, as well as providing support for policy reforms, energy planning, preparation of feasibility studies, capacity development, and promotion of regional power and gas trading initiatives.<br \/>\nADB\u2019s assistance is helping the government to address the persistent energy crisis through Vision 2025, Pakistan\u2019s comprehensive plan for economic growth.<br \/>\nThe plan aims to increase power generation, provide uninterrupted electricity to all, and improve demand management.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA (INP) The Asian Development Bank (ADB) has approved an $810 million multi-tranche financing facility to develop Pakistan\u2019s power transmission system, to improve the reliability and quality of energy supply, and to meet increasing demand for electricity. \u201cA reliable and sustainable power sector is critical to the economic growth and wellbeing of Pakistan,\u201d said Megan [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-1999","post","type-post","status-publish","format-standard","category-top-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ADB approves $810 mln for Pakistan<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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