Pakistan needs $31B for development program

At the recently-held Pakistan Development Forum, Pakistani officials called on foreign lenders, including the World Bank and the Asian Development Bank, to extend $31 billion in loans for development projects in the country. The extensive program, to be spread out over eight years, is seeking $7 billion for road construction by 2014, $18 billion for water reservoir construction by 2010, $3 billion for the Iran-Pakistan-India gas pipeline, and another $1 billion for the port city of Karachi. Also launched was a $2 billion five-year plan to develop tribal areas suspected of Taliban-related terrorist activities, which has already received USAID backing. On a separate note, Syed Asad Shah, a member of the government’s Planning Commission, mentioned that improvements in railways, ports and highways are expected to generate $7 billion a year in savings for the country. (Source: Pakistan Seeking Donor Help With $31 Billion Development Projects/Dow Jones)

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