ADB to provide 250 mln USD to Pakistan for improvement of border services

The Asian Development Bank (ADB) will provide 250 million U.S. dollars loan to Pakistan for a "regional improvement of border services project" under the Central Asia Regional Economic Cooperation (CAREC), according to an agreement signed here on Wednesday.

The project aims at developing physical infrastructure at border crossing points, providing equipment such as scanner and weigh-bridges, IT hardware and software for single window system and streamlining cross border procedures and capacity development.

The objectives of the project are to adopt single window system for integrated and coordinated management of borders, increase trade and transit cargo through border crossing points, make cross border processing of goods and people efficient and modernize border crossing points.

ADB chief Takehiko Nakao said that the ADB will continue supporting Pakistan in sectors of energy, infrastructure, trade, health, and social development.

He appreciated reforms agenda of the government here making the country an attractive destination for investment.

He also lauded Pakistan's macro-economic stability by citing increased growth rate, declining inflation, and swelled foreign exchange reserves.

Speaking on the occasion, Pakistani Finance Minister Ishaq Dar said the CAREC will foster greater integration among regional countries. He said better border-management is being employed on Wagha-Chaman-Torkhan entry points with the cooperation of ADB.

He said improving cooperation with the CAREC countries is top priority of the Pakistani government.

Dar also assured Pakistan's commitment to mobilize all possible resources to improve regional connectivity and linkages particularly with Afghanistan and central Asian region. Endit