{"id":58203,"date":"2024-12-05T11:34:01","date_gmt":"2024-12-05T06:34:01","guid":{"rendered":"https:\/\/dailyausaf.com\/en\/?p=58203"},"modified":"2024-12-05T11:34:01","modified_gmt":"2024-12-05T06:34:01","slug":"adb-plans-to-provide-86-2mln-to-pakistan-for-sustainable-aviation-fuel-plant","status":"publish","type":"post","link":"https:\/\/dailyausaf.com\/en\/business\/adb-plans-to-provide-86-2mln-to-pakistan-for-sustainable-aviation-fuel-plant\/","title":{"rendered":"ADB plans to provide $86.2mln to Pakistan for sustainable aviation fuel plant"},"content":{"rendered":"

ISLAMABAD: In a recent development, the Asian Development Bank<\/a> (ADB) and SAFCO Venture Holdings Limited has approved a loan of 86. 2 million to Pakistan as a part of developmental financing package, according to a press release issued by ADB.<\/p>\n

According to the details, the fund aims to establish stable aviation fuel reserves in the country. Additionally, a private aviation fuel storage facility is also planned to set up in Sheikhupura, Punjab.<\/p>\n

The financing includes collaborative efforts from Manila based lender with aid of $41.2 million, ordinary capital resources (OCR) and, $45 million in syndicated loans including B-loans from The Emerging Africa & Asia Infrastructure Fund\u2014an emerging market infrastructure debt fund owned by PIDG and managed by Ninety-one and ILX\u2014an Amsterdam-based emerging market asset manager focused on SDG and climate private debt strategies.<\/p>\n

The loan is part of a framework for climate support that finances infrastructure projects. It is anticipated that the program will lower aviation’s carbon emissions.<\/p>\n

Earlier, Pakistan received $500 million<\/a> from the Asian Development Bank (ADB) under the Climate Change and Disaster Resilience Enhancement Programme (CDREP), the central bank confirmed.<\/p>\n

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The amount reflected in the State Bank of Pakistan’s (SBP) foreign exchange reserves<\/a> next week \u2014 was released on December 5, 2024 \u2014 and will help boost the country’s import cover and stabilize the currency, the SBP said in a statement.<\/p>\n

Meanwhile, the foreign exchange reserves increased by $131 million on a weekly basis, clocking in at $11.42 billion as of November 22. While total liquid foreign reserves held by the country stood at $16.08 billion.<\/p>\n<\/div>\n

Last month, the\u00a0Asian Development Bank (ADB) approved a $500 million policy-based loan aimed at supporting disaster risk reduction and climate resilience in Pakistan<\/span><\/p>\n

\n
“The policy-based loan\u00a0will strengthen Pakistan\u2019s institutional capacity for planning, preparedness, and response to climate-induced disasters. The loan program will\u00a0<\/span>increase inclusive investment in disaster risk reduction and climate resilience, and support the scale-up of disaster risk financing using a risk-layered approach,” the Philippines-based said.<\/span><\/div>\n<\/div>\n

The program supports enhanced capacity for disaster risk mapping and modeling for investment and development decisions. It enhances coordination for disaster monitoring and response.<\/span><\/p>\n

\u201cIt supports enhanced planning and prioritization of gender-sensitive and resilient public investments, including integrated flood risk management and nature-based solutions,\u201d the Philippines-based said.<\/span><\/p>\n

Apart from funding for climate and disaster resilience<\/span>, the bank also approved a technical assistance grant of $1 million for Pakistan to support the implementation of the program.<\/p>\n

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According to the Asian lender, the program will support the establishment of a solidarity fund to facilitate the uptake of risk transfer solutions such as agriculture insurance. The program also supports shock-responsive social protection to deliver cash assistance in the event of a disaster.<\/span><\/p>\n<\/div>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

ISLAMABAD: In a recent development, the Asian Development Bank (ADB) and SAFCO Venture Holdings Limited has approved a loan of 86. 2 million to Pakistan as a part of developmental financing package, according to a press release issued by ADB. According to the details, the fund aims to establish stable aviation fuel reserves in the […]<\/p>\n","protected":false},"author":9,"featured_media":11691,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[24519,24517,24518],"class_list":["post-58203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-adb-provides-loan-to-pakistan","tag-asian-developmental-bank","tag-aviation-fuel-plant"],"_links":{"self":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/58203","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/comments?post=58203"}],"version-history":[{"count":3,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/58203\/revisions"}],"predecessor-version":[{"id":58208,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/posts\/58203\/revisions\/58208"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media\/11691"}],"wp:attachment":[{"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/media?parent=58203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/categories?post=58203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyausaf.com\/en\/wp-json\/wp\/v2\/tags?post=58203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}