ADB signs pacts with Pakistan for two projects worth USD 730 million

Islamabad: The Asian Development Bank on Thursday signed agreements with Pakistan for two major projects worth USD 730 million to support the country's energy infrastructure and institutional reforms.

Muhammad Humair Karim, Secretary, Economic Affairs Division, and Asian Development Bank Country Director Emma Fan signed documents at an agreement ceremony.

The agreements include the Second Power Transmission Strengthening Project valued at USD 330 million and the Accelerating State-Owned Enterprise (SOE) Transformation Programme worth USD 400 million, according to a statement by the Economic Affairs Division.

Karim expressed appreciation for ADB’s role as a trusted development partner and its continued support to Pakistan in advancing critical infrastructure and governance reforms.

He highlighted that the Transmission Project will enable reliable evacuation of 2,300 MW from upcoming hydropower projects, relieve overloading of existing transmission lines and enhance resilience under contingency conditions.

He added that the SOE Transformation Program will strengthen compliance with the SOE Act, 2023 and SOE Policy 2023, besides improving operational efficiency, particularly focusing on the National Highway Authority (NHA).