ISLAMABAD: Pakistan is likely to get over $1 billion a year for development projects during the three-year period (2015-17) of the ‘Country Business Plan’ of Asian Development Bank (ADB), a ‘quarterly portfolio performance review’ meeting was informed on Tuesday.
Secretary, Economic Affairs Division, Muhammad Saleem Sethi, and ADB Country Director, Werner E. Liepach jointly chaired the meeting.
The review concluded that in 2014 there was good progress in expanding the portfolio. From $4.49bn in 2013, it increased to $5.51bn by the end of 2014, including resumption of policy based lending.
In 2014, the Economic Affairs Division and ADB signed six new projects, in addition to one policy-based lending in energy sector amounting to $400 million. During the year, the yearly disbursement was more than $850m which is the highest achievement since 2009.
ADB informed that active public sector portfolio amounts to $5.51bn as of December 31, 2014, including 24 projects and one policy-based lending. There are 21 active technical assistance projects amounting to $20.15m, including ten technical assistance projects approved in 2014 for $8.6m.
The review meeting also noted that the energy sector now comprises half of the Pakistan’s active portfolio and is likely to grow in the coming years. The remaining portfolio consists of transport (16 per cent), agriculture and natural resources (13pc), multi-sector (emergency project, 11pc), health and social protection (7pc), and water and other urban infrastructure and services (2pc).