ISLAMABAD - Pakistan and Asian Development Bank on Tuesday signed a loan agreement of $197.85 million for Sindh roads improvement project.

Asian Development Bank's Country Director Werner E. Liepach and Secretary Economic Affairs Division Tariq Bajwa signed the loan agreement. Finance Minister Ishaq Dar witnessed the signing ceremony.

Speaking on the occasion, the finance minister thanked ADB for providing vital support to Pakistan particularly in the transport, energy and irrigation sectors.

He assured Pakistan's commitment to mobilize all possible resources for improving and developing transport sector and inter-provincial linkages for enhanced local connectivity. He mentioned that connectivity will generate economic activity for the progress of people of Sindh.

The project will help in rehabilitation and upgradation of roads in Sindh, particularly in Sanghar, Mirpur Khas, Badin, and Kashmore districts. In addition, it will also serve to strengthen the institutional capacity of Works and Services Department, government of Sindh in project management, road planning and maintenance as well as in ensuring road safety.

WB delegation, Dar discuss reform initiatives

APP: Minister for Finance Senator Mohammad Ishaq Dar held a meeting with a World Bank delegation led by Country Director for Pakistan, Patchamuthu Illangovan here Tuesday to discuss the reforms initiatives under process in the current financial year.

The World Bank Country Director discussed with the finance minister the proposed World Bank assistance package to be made available to Pakistan under Development Policy Credit for economic growth. The minister was briefed about the proposed prior actions for availing the credit limit for the current year.

The minister apprised the World Bank team of the government's reform agenda. Both the sides agreed to speed up the reforms process that will bring economic efficiency and transparency in the system.

The meeting was attended by senior officials of Ministry of Finance, Economic Affairs Division (EAD) and World Bank.