ADB loans for three nations

ADB loans for three nations

MANILA (AFP): The Asian Development Bank (ADB) yesterday
announced loans for the Philippines, China and Pakistan.

It said here that it has approved a US$23.5-million loan to
cover additional costs for a road-building project in the
Philippines.

The project was intended to improve 750 kilometers (465 miles)
of national roads and cover the design of 700 kilometers (434
miles) of rural roads, throughout the country.

The bank has also approved two loans worth $292 million for
expressway projects in Heilongjiang and Yunnan province.

A $150-million loan will go to the Yunnan project while a
$142-million loan will go to Heilongjiang, a statement from the
Manila-based bank said.

Pakistan will receive a $45-million loan and a $475,000
technical assistance grant for a high-priority bridge project.

The bank said the loan would help the government construct a
1.6-kilometer (one-mile) four-lane bridge across the Indus River
connecting the provinces of Balochistan and northern Sindh, as
well as eight kilometers (five meters) of access roads on both
sides of the river.