Energy Sector Reforms and Financial Sustainability Program (Subprogram 1) (ADB-53165-001)

Countries
  • Pakistan
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
C
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Government of Pakistan
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 300.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 300.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Oct 30, 2019

Disclosed by Bank Sep 10, 2019


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Project Description

According to the bank website, "The proposed Energy Sector Reforms and Financial Sustainability Program aims to address fiscal, governance, technical, and policy deficits in Pakistan's energy sector. These arrears have adversely impacted the sector's quality and efficiency of services, and the sustainability of energy infrastructure and finances, thereby challenging Pakistan's fiscal balance and macroeconomic stability. The program incorporates lessons learned from similar policy-based interventions by the Asian Development Bank (ADB) and draws on the recommendations and lessons in the sector assistance program evaluation. The program is conceived in close coordination with key development partners, and underpins the International Monetary Fund's recently approved $6.0 billion extended fund facility to curtail the sector's burden on the annual budget and to stem quasi-fiscal losses and associated negative impact on economic growth."

Investment Description
  • Asian Development Bank (ADB)
Contact Information

Responsible ADB Officer Asad Aleem
Responsible ADB Department Central and West Asia Department
Responsible ADB Division Energy Division, CWRD
Executing Agencies Ministry of Finance
Q-Block, Finance Division,
Pak Secretariat, Red Zone, Islamabad,
Pakistan

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main