Pakistan Pledges to Comply with ADB Policies, Procedures for Post-Flood Loan

Pakistan has assured the Asian Development Bank that it will abide by all applicable procedures and policies, including anti-corruption safeguards, in implementing the $650 million loan the bank has approved for post-flood reconstruction in the country.

The loan’s executing agencies will provide quarterly reports using ADB’s project performance monitoring system as well as consolidated financial and audit reports, The News says. All project information will also be made available online, the newspaper adds.

ADB approved the emergency loan in March to help Pakistan rebuild key infrastructure damaged in last year’s flooding.

>> Pakistan Secures Post-flood Aid from ADB, World Bank

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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.