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ADB has 15 active private sector projects worth $250m in Pakistan

ISLAMABAD: The Asian Development Bank currently has 15 active private sector projects in Pakistan with investment in both debt and equity instruments.

Pakistan is a major recipient of private sector assistance from ADB and the bank's direct disbursements to Pakistani companies exceed $250 million to-date, sources at ADB mission here said.

The sectoral spread of these investments, according to sources, is quite wide and includes companies operating in such areas as financial services, leasing investment banking, venture capital, manufacturing, engineering, cement, infrastructure and power generation.

While private sector assistance is on commercial terms, ADB's role as a development catalyst always remains in the forefront, sources said adding that this is evidenced by ADB acting as lender of record for co-financing facilities provided to Pakistani borrowers.

Environmental and social impacts of the projects are considered as important as their economic and financial viability, sources said.

The more recent shift in ADB's principal focus is geared to poverty alleviation, and all prospective private sector projects are now needed to provide convincing evidence of how they contribute significantly towards poverty reduction, sources stated.

Over the years, the bank has also provided assistance for a number of far-to-market and rural roads projects in Pakistan, sources said.ÑAPP