KP Government to Borrow Loan 99 Billion from Asian Development Bank
Peshawar: According to a news report dated April 9th, the Khyber Pakhtunkhwa (KP) administration has decided to borrow PKR 99 billion from the Asian Development Bank (ABD) for the local government department.
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Also, a separate loan of PKR 500 million was granted for the province government. The ADB would disburse the loan amount in instalments over the following five years.
According to the study produced by the ADB, a specific emphasis will be placed on the society’s more disadvantaged groups, and the project will establish specialized training programmes and scholarships for women residing in the chosen regions.
The establishment of a project management unit, which will be finished in the next five years with the help of water and sanitation services providers and Tehsil Municipal Administrations, would also receive an estimated PKR 3.447 billion in funding (TMAs).
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The loan, which would be the largest the province has ever taken out, will be utilized to raise living standards in five important cities: Swat, Peshawar, Mardan, Abbottabad, and Kohat.
The “Khyber Paktunkhwa Cities Improvement Initiative” intends to provide the aforementioned cities with clean drinking water, sanitary services, and basic facilities.
Additionally, plans call for improvements to the water treatment and drainage systems, as well as the construction of waste disposal facilities and public parks.
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