Business News

Feb 26, 2009, 15:02 GMT

Asian Development Bank offers to double Pakistan's aid

Islamabad - The Asian Development Bank (ADB) on thursday offered cash-strapped Pakistan to double its annual assistance to three billion dollars during the incoming fiscal year staring on July 1, a senior official of the bank said. 'We can double Pakistan's assistance up to three billion per annum provided Islamabad makes a request and the funds available to ADB are increased,' the bank's vice president Zhao Xiaoyu told reporters in Islamabad. The statement came after his talks with Pakistan's deputy minister for economic affairs Hina Rabbani Khar. The visiting official also met the Pakistan's Prime Minister Yousuf Raza Gilani. Under the offered deal, the ADB's assistance for the next three years would be jacked up to nine billion dollars from 4.5 billion dollars for fiscal years 2009-2010 to 2012-13. Xiaoyu also said that the ADB was ready to extend its financing facility for construction of mega water projects in the country. Pakistan is looking for assistance for its 12-billion-dollars Basha dam project to overcome the power-crisis the country is currently facing. According to the plan, the work on the hydro-electric power project will be started within the ongoing calendar year 2009 and when completed it will produce some 4500 megawatt power.

And Also

The Decade: Film's 10 Best Music Moments In The Aughts

The Decade: Film's 10 Best Music Moments In The Aughts - Cinema Blend
GASP: Goldstriker creates world's most expensive iPhone - The Tech Herald
Peter Jackson Looks Lovely at 'Bones' Premiere - PopEater
Chris Rock interview, Sons of Anarchy and Woody Allen shout out for 'Madagascar' star

Your Talkback on this Story

Similar articles

Pakistan to seek 30 billion dollars from Friends of Pakistan
Official: Pakistan to cut interest rates, inflation
(eca129): Pakistan to ask IMF for additional loan of 4.5 billion dollars
Pakistan to ask IMF for additional loan of 4.7 billion dollars
Pakistan to import sugar to meet domestic shortage

Latest Headlines in Business

Older Talkback

Business: Index

: News; Features; Currency Conversion

Latest Pics

From Sites we Like

If you put a sheep named Rob into a shopping cart and then pushed it into a supermarket, the police would like a word (pic) [Amusing]
Hero: Danvers HS students want to sell "Free Meep" shirts to raise money for scholarship. Asinine: Principal still says this is "inappropriate and unacceptable" [Followup]
In the never-ending quest by the government to encourage everyone buy new stuff, comes "Cash for Appliances". Finally, subby can trade up for a new beer fridge [Spiffy]

More Not News from Fark

In Monsters and Critics

: Arts; Books; DVD; Gaming; Lifestyle; Movies; Music; News; People; Science & Nature; Sport; TV; Archives
Other Languages and Sites: Deutschland (Monsters and Critics); The Tech Herald; Free Games

Entertainment: Arts; Books; DVD; Gaming; Movies; Music; People; Soundtracks; TV
Media: Celebrity Photos; Movie Pictures; Movie Trailers; Movie Posters; Theatre Stills; Celebrity Video; Music Video
Released this week: Movies - USA; Movies - UK; DVD - USA
Distractions: Online Games; Daily Crossword; Sudoku Classic; Daily Jigsaw

World News: US; UK; Americas; Europe; Middle East; Asia Pacific; South Asia; Africa; Business; Education; Health
Science and Tech: Science and Nature; Technology
Lifestyle: Autos; Fashion; Life; Travel

Corporate

: About; Advertise; Contact; The Team; Vacancies; Privacy; RSS; Site Map; Terms; Webmasters

The Fine Print

© 2003 - 2009 by Monsters and Critics.com, WotR Ltd. All Rights Reserved. All photos are copyright their respective owners and are used under license or with permission. * Note M&C cannot be held responsible for the content on other Web Sites.

Servers supplied by Servint