ADB OKs Loan for Pakistan Electric Company

A web of power lines in Pakistan. The Asian Development Bank is providing USD150 million to upgrade an electricity company in Pakistan. Photo by: clean socks / CC BY-NC-SA clean socksCC BY-NC-SA

The Asian Development Bank is providing USD150 million for the  post-privatization rehabilitation and upgrading of an electric company in Pakistan. The loan will also support the expansion of a thermal power station in the country, according to the Daily Times.

The assistance is part of ADB’s ongoing support for the Karachi Electric Supply Company Ltd., which supplies electricity to the city of Karachi and nearby areas. The bank has been supporting  the company over the past 30 years and assisted in its privatization process in 2005.

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  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.