ADB refuses extra $2 billion for flood-hit Pakistan

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ISLAMABAD – The Asian Development Bank (ADB) has abandoned plans to provide Pakistan an extra US $2 billion for flood-rehabilitation projects and instead offered to divert funds from programmes experiencing unsatisfactory progress, Express Tribune reported September 7, citing senior Pakistani officials.

The ADB handed to the government a list of 30 problematic or slow projects that could be cancelled to help fund flood-rehabilitation programmes. The Pakistani government is likely to decide in the next few days, media reported.

The ADP characterised 12 ongoing projects as slow-moving and recommended stopping them. It identified another 15 projects as stoppable.