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| November 11, 2005 | Friday | Shawwal 8, 1426 |
ADB to okay emergency loan of $300m
ISLAMABAD, Nov 10: An Asian Development Bank fact-finding mission on Thursday held a meeting with adviser to prime minister on finance Dr Salman Shah and Earthquake Reconstruction and Rehabilitation Authority (Erra) chairman Lt-Gen Mohammad Zubair.
The meeting discussed the emergency assistance to be extended in the form of loan and grant for various projects aimed at rehabilitating the quake-affected areas in AJK and NWFP.
The ADB mission informed the meeting that an emergency loan and grant worth $300 million, including $80 million grant, would be approved quickly. This would be in addition to the $100 million package to be given for budgetary support. It would be soft loan, payable in 40 years with 10 years of grace period.
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