ADB to provide $200m loan to improve performance of three power distribution companies
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Asian Development Bank has decided to provide $200 million loan to Ministry of Economic Affairs, which will be used for the betterment of power sector in the country, reported 24NewsHD TV channel. According to spokesperson, loan program agreement was signed between the Ministry of Economic Affairs and the Asian Development Bank.
Under the agreement, the Asian Development Bank loan will be used for the power sector reforms. Three electricity distribution companies will be able to benefit from the agreement. Power distribution companies LESCO, MEPCO and SEPCO will benefit from this agreement.
On behalf of the Ministry of Economic Affairs, Secretary Dr. Kazim Niaz signed the agreement with Asian Development Bank Deputy Country Director Asad Aleem.
Reporter: Waqas Azeem