ADB approves $330 million loan for Pakistan’s transmission upgrade
The Asian Development Bank has approved a $330 million financing package for Pakistan’s Second Power Transmission Strengthening Project. The plan aims to expand and modernize the transmission network so it can absorb more low cost renewable and hydropower. The funding includes a $285 million loan from ADB’s ordinary capital resources and a $45 million concessional loan. The National Grid Company of Pakistan will serve as the executing agency. It will use the financing to upgrade…