ADB approves $250mn loan to improve power transmission in Pakistan
The Asian Development Bank (ADB) has announced that it will provide $250 million in loans to Pakistan to improve and expand its power transmission network in Punjab and Khyber Pakhtunkhwa provinces.
The project aims to increase the transmission capacity and stability of the national grid, as well as reduce transmission losses and improve energy efficiency.
According to a statement released by ADB on Friday, the Power Transmission Strengthening Project will involve the construction of new high-voltage transmission lines and the replacement of old ones in Lahore. The project will also enhance the management and operations of the National Transmission and Despatch Company Limited (NTDC), the state-owned entity responsible for the transmission of electricity across the country.
The project will also support NTDC’s efforts to incorporate climate resilience and gender equality in its planning and activities.
The loan is part of ADB’s ongoing support to Pakistan’s energy sector, which aims to ensure energy security, climate resilience, and cost-effective energy supply.
ADB has been a major partner of Pakistan in the energy sector since 1968, with cumulative lending of $6.3 billion for 44 projects.