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CDWP allowed obtain USD 500 million loans from World & Asian Bank for three projects

Lahore: The Central Development Working Party (CDWP), during its meeting on Thursday, allowed three projects to obtain USD 500 million in loans from international agencies, including USD 400 million from the World Bank (WB). The meeting was chaired by Planning Commission Deputy Chairman Mohammad Jehanzeb Khan.

Due to the large amounts of funds involved, any loan required by the provincial governments have to be reviewed by the federal government because of its impact on the country’s debt sustainability. The approved projects include a USD 250 million venture under the Naya Pakistan Housing Scheme, and another USD 250-million initiative under the Punjab Rural Sustainable Water Supply and Sanitation project. Both will receive USD 200 million each from the WB.

The third project to be cleared is worth USD 100 million and falls under the auspices of the Water and Sanitation Agency (WASA) — with financing to be provided by the Asian Infrastructure Investment Bank.

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