The government of Pakistan and the Asian Development Bank (ADB) have signed agreements for two projects totaling $304.5 million. According to the spokesperson for the Economic Affairs Division, an agreement was signed for the Sindh Coastal Resilience Sector Project, which has a value of $180.5 million.
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| PPHOTO: ADB |
In addition, a $124 million agreement was signed for the Punjab Climate-Resilient and Agricultural Mechanization Project.
The agreements were signed by Secretary of Economic Affairs Muhammad Humair Karim and ADB Country Director Ema Fan.
Representatives from the governments of Sindh and Punjab also signed the agreements on behalf of their provinces.
For the Sindh Coastal Resilience Project, the Asian Development Bank will provide a loan of $140 million along with a technical grant of $0.5 million.
The Secretary of Economic Affairs added that the Sindh Coastal Resilience Project will directly benefit the districts of Thatta, Sujawal, and Badin.
The Punjab Climate-Resilient Project will help improve agricultural productivity and environmental resilience in 30 districts of the province.
The Punjab government will also contribute $5 million towards the project.
Under the project, small farmers will get better access to climate-smart agricultural machinery.
The main goal of these projects is to enhance climate resilience.
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