ADB signs loan agreement for Punjab Urban Development Projects
Lahore: The Asian Development Bank (ADB) has signed a concessional loan agreement with the government amounting to $15 million for Punjab urban development projects.
This concessional loan is a Project Readiness Financing Facility for engineering and designing urban development projects in seven major cities across Punjab, as identified by the provincial government, said a statement issued by the Ministry of Economic Affairs.
Economic Affairs Division (EAD) Secretary Dr. Syed Pervaiz Abbas signed the loan agreement on behalf of the Government of Punjab with ADB Country Director Xiaohong Yang. The local government and community development department of the Punjab government is acting as the executing agency for the subject projects.
The Procurement Ready Project (PRF) is expected to be completed by October 31, 2022. The PRF shall prepare readiness for ensuing projects across the seven major cities in Punjab province including Multan, Bahawalpur, Dera Ghazi Khan, Rahim Yar Khan, Rawalpindi, Muzaffargarh, and Sargodha.
The activities under the PRF include the preparation of spatial land use plans, updating surveys and studies, and investigating potential geological and hydrological sites proposed.
Recent News

ilaan.com and DEFCLAREA Join Forces to Revolu...
20 Sep 2023

Despite Delays, CDA Discloses Its Urban Facel...
18 Aug 2023

LDA Conducts Operations Against Illegal Feroz...
18 Aug 2023

Punjab's Real Estate Market Benefits from FB...
17 Aug 2023
