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Pakistan, ADB Sign $200 Million Loan Agreement for Power Distribution Strengthening Project

Jan 01, 2025•over 1 year ago

Contract Type

agreement

MandaluyongInternational Trade and Development

Description

Pakistan and Asian Development Bank (ADB) have signed a $200 million loan agreement for the Power Distribution Strengthening Project. The project aims to initially support three distribution companies—Lahore Electric Supply Company (LESCO), Multan Electric Power Company (MEPCO), and Sukkur Electric Power Company (SEPCO)—through advanced metering infrastructure, data management systems, and asset performance management system (APMS).

Company Information

Company

Asian Development Bank

Location

Mandaluyong, Manila, Philippines

About

ADB’s vision is to achieve a prosperous, inclusive, resilient, and sustainable Asia and Pacific, while sustaining its efforts to eradicate extreme poverty. Despite the region’s many successes, 1 in 3 people still live under $3.20 a day - that's 1.24 billion people. ADB will continue to prioritize the region's poorest and most vulnerable countries. Established in 1966, ADB is owned by 68 members, including 48 from the region. Its main instruments for helping its developing member countries are policy dialogue, loans, equity investments, guarantees, grants, and technical assistance.

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