ADB to lend USD 513mn for construction of Khanki Barrage and improve power transmission – Alfalah Securities Limited
Karachi: The Asian Development Bank (ADB) would disburse USD 513 million as a loan to Pakistan, out of which USD 270mn would be utilized on account of the construction of Khanki Barrage at River Chenab while, the remaining USD 243mn would be employed for improving the power infrastructure in the country.
According to Alfalah Securities Limited, the construction of Khanki barrage would prevent dwellers and their agricultural area from the risk of floods and water leakages ultimately improving their crop yields. Similarly, the loan would also be utilized in improving the power transmission system by 2016 and would result in overcoming the acute energy shortage. The loan would be repaid within a period of 25 years with a 5 year grace period at a rate of 1.2%.