Karachi: Asian Development Bank (ADB) approved $ 250 million policy-based loan to help Pakistan drive sustainable investments in infrastructure and services through public-private partnerships.

As per press statement, loan is part of ADB’s Promoting Sustainable Public-Private Partnerships Programme that supports implementation of government policies to create an enabling environment for fiscally affordable PPPs and promote inclusive economic growth. “This programme is part of our comprehensive and integrated package of public sector management support that balances country’s fiscal consolidation and growth objectives,” said ADB Director General for Central and West Asia Yevgeniy Zhukov. “Programme will help government create an environment that is conducive to strategic, fiscally affordable PPPs that will bring country closer to its development goals,” he said. As per Manila-based lender’s statement, ADB’s programme supports reforms that will increase absorptive capacity of PPP infrastructure investments by creating more robust and integrated legal and institutional framework for public investment management and public financial management for PPPs. “Mobilising private finance through PPPs can help to bridge financing gap in public sector infrastructure projects-which is vital,” said ADB Economist Sana Masood.

“This programme will help ensure PPPs in Pakistan are structured correctly and implemented effectively in order to deliver more efficiency, innovation and value for money.”