The Asian Development Bank (ADB) has agreed to lend $8.3 million to Pakistan, aimed at improving water availability to increase agricultural production in Punjab.
The loan agreement was signed by Xiaohong Yang and Syed Pervaiz Abbas – Economic Affairs Division Secretary, in Islamabad.
Xiaohong Yang – ADB Country Director for Pakistan, highlighted the fact that the agriculture industry is the backbone of Pakistan’s economy, and its strengthening is essential to ensure satisfactory food security.
“This loan will ensure that the proposed, upcoming irrigation projects which are fundamental to the development of Pakistan’s agriculture sector, get off to the best possible start,” he noted.
The loan will be utilized for the rehabilitation and upgrade of upper Jhelum canal system, improvement of Dera Ghazi Khan Canal irrigation system, remodelling of Rasul-Qadirabad, Qadirabad-Balloki, and Balloki-Suleimanki canals, greater Thal Canal Project phase-2 (Dhingana Branch System, Noorpur Branch System, and Mahmood Sub-branch System), and for the Harnessing of hill torrents in Dera Ghazi Khan and Rajanpur.
The loan will also complement Punjab government’s allocated fund for the projects worth upto $1.2 billion.
