The Asian Development Bank (ADB) said Friday it has approved a 25-million-dollar loan to prepare and implement an infrastructure development programme in Pakistan, reported the dpa. The project aims to support Pakistan's economic growth and reduce poverty, the Manila-based ADB said. It will prepare an investment programme to develop Pakistan's infrastructure sector. It will also plan infrastructure projects that will expand the country's economic foundation by providing electricity, transportation and water resources, the ADB said. "The timely development and implementation of infrastructure investment projects are indispensable to economic progress," said Rune Stroem, an ADB principal energy specialist. "The pivotal step from the strategy to the implementation of infrastructure projects is the creation of an environment conducive to private investments," he added. The ADB noted that the Pakistani government has set ambitious targets for economic growth and poverty reduction, which will require massive infrastructure developments. --More 1417 Local Time 1117 GMT
