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ISLAMABAD: The Asian Development Bank (ADB) has approved two projects worth $540 million to support state-owned enterprise (SOE) reforms in Pakistan and strengthen disaster resilience in Sindh&rsquo;s coastal districts, state-run APP reported on Friday.&nbsp;The financing includes a $400 million results-based loan for the Accelerating SOE Transformation Program and a $140 million concessional loan for the Sindh Coastal Resilience Sector Project, according to an ADB press release received here. ADB Country Director for Pakistan Emma Fan said the SOE reform program aims to improve governance and commercial performance of Pakistan&rsquo;s SOEs, which are critical for economic stability and development. She said the program will also focus on restructuring and commercialization of the National Highway Authority, one of the largest entities in Pakistan&rsquo;s SOE portfolio. The initiative marks ADB&rsquo;s first results-based loan dedicated solely to public sector management reform. Over the past five years, ADB has supported Pakistan&rsquo;s SOE reforms, including enactment of the SOE Act and SOE Policy in 2023 and the establishment of a central monitoring unit. ADB has also approved a $750,000 technical assistance grant to support capacity building and effective implementation of the reforms. Sindh coastal resilience projectMeanwhile, the Sindh Coastal Resilience Sector Project aims to enhance disaster resilience in the coastal districts of Badin, Sujawal and Thatta. The project is expected to benefit more than 500,000 people, protect 150,000 hectares of agricultural land and restore 22,000 hectares of forest, in line with Pakistan&rsquo;s National Flood Protection Plan IV and Sindh Climate Change Policy. The project is co-financed by a $20 million grant and a $20 million concessional loan from the Green Climate Fund, administered by ADB.&nbsp;ADB said the project will focus on flood protection, improved drainage systems, restoration of mangroves and forests, and community-based resilience planning, with at least 25 percent of funds allocated to women-led initiatives.

People evacuating from a flood-struck area. — AFP/File

Economy

The Asian Development Bank approves $540 million for Pakistan to support state-owned enterprise reforms and boost disaster resilience in Sindh’s coastal districts, benefiting over 500,000 people.

Articles tagged with "SOE reforms"

ADB approves $540M Pakistan SOE reforms, Sindh coastal resilience projects