ISLAMABAD:
Asian Development Bank (ADB) has agreed to give $220 million to Pakistan to rebuild and upgrade roads, bridges and other infrastructure in Punjab and Azad Jammu and Kashmir areas, which have been damaged by 2014 floods.
The Board of Directors of the Manila-based lending agency approved the loan on Tuesday, according to a handout issued by the bank’s local office. The project will be carried out over three years with an expected completion date of June 2018.
The floods in September 2014 displaced over 2.5 million people across 44 districts, and damaged more than 445,000 hectares of agricultural land, causing severe hardship to about a quarter of a million farmers.
