The Asian Development Bank (ADB) said on Wednesday it approved a $4.4 billion lending program for Pakistan for 2009 to 2013 to facilitate structural changes, promote investment and improve institutional effectiveness.
Dow Jones adds that "the aid package will average $1.5 billion per year through 2011", said ADB Country Director for Pakistan Rune Stroem. "The main purpose of the aid is to sustain growth, reduce poverty and accelerate the transformation of economy", Stroem said. "Most of the assistance will go to improving sectors such as energy, water and infrastructure, and to economic reforms," she continued.
However, the Business Recorder writes that "Stroem expressed serious concern over political instability in Pakistan, and feared that the situation could upset the on-going lending programs of the international donors, including the International Monitory Fund (IMF), the World Bank and the ADB. He said that the security risks had become a matter of serious concern among the international donors."
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