ADB helps alleviate Pakistani energy crisis

The Asian Development Bank confirmed a $150 million loan to Pakistan’s Karachi Electric Supply Corp. to help address the growing power supply needs of about 16 million residents in Karachi, the country?s largest city. “This capital injection is essential and will greatly improve the utility’s ability to provide a quality service to Karachi,” said ADB Director-General for Private Sector Operations Robert Bestani. The city has long struggled with power failures and the bank anticipates the booming Pakistani economy to put even greater pressure on its already scarce energy resources.

Source: ADB helps Karachi power supply (UPI)

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