EAD, ADB Sign $250 Mln Promoting Sustainable PPP Program Loan

Secretary Ministry of Economic Affairs Division (EAD) Dr Kazim Niaz and Country Director, ADB Yong Ye signed the US$ 250 million promoting sustainable Public–Private Partnerships (PPP) program loan to help Pakistan drive sustainable investments in infrastructure and services through PPPs

ISLAMABAD, (UrduPoint / Pakistan Point News - 21st Jun, 2024) Secretary Ministry of Economic Affairs Division (EAD) Dr Kazim Niaz and Country Director, ADB Yong Ye signed the US$ 250 million promoting sustainable Public–Private Partnerships (PPP) program loan to help Pakistan drive sustainable investments in infrastructure and services through PPPs.

The program's core objective is to strengthen the governance framework and enabling environment for public–private partnerships (PPPs) at the Federal government level, by strengthening the: (i) policy, legal and institutional frameworks for Public Investment Management (PIM) and Public Financial Management (PFM) for PPPs; and (ii) national and sectoral infrastructure planning and PPP project preparation, said a news release here on Friday.

Dr Kazim Niaz thanked ADB for its continued support for Pakistan’s critical development needs and rehabilitation efforts in post-flood context. The program loans support the government’s reform agenda, Balance of Payment (BOP), and contribute to the macroeconomic stability of the country.

Dr Kazim Niaz said that the program would go a long way in realization of the Prime Minister’s vision of greater involvement of the private sector in the development process.

Yong Ye underscored the importance of a conducive enabling environment to foster strategic and fiscally affordable PPPs in Pakistan.