The Asian Development Bank promised to jumpstart its funding for Pakistan within the next three years. According to Juan Miranda, director general for Central West Asia, financial assistance for the region is expected to amount to at least $6 billion in loans and grants by 2010. The bank is currently revamping its strategic priorities in order to focus on a number of key sectors, including infrastructure, reforms, agri-business, and non-banking services. The funds will also be geared towards organizing substantial co-financing from Pakistan?s commercial banks, private equity groups and capital markets, as well as priming up its direct private sector investments.
Source: ADB to raise funding for Pakistan (Economic Times)