MANILA, Aug 6: The Asian Development Bank (ADB) plans to raise lending levels to Pakistan to $2.67 billion over the next three years, according to a Country Strategy and Programme (CSP) Update for 2004-2006 available on ADB website. The strategy was endorsed on Wednesday by ADB’s Board of Directors.

To intensify ADB’s support for poverty reduction, the total assistance package has been increased from the $2.4 billion approved in the CSP for 2003-2005, in light of the government’s concerted effort to implement an ambitious broad-based sectoral reform agenda, which has resulted in greater macroeconomic stability and policy reform in key sectors.

This reform effort has been complemented by the effectiveness of the government’s debt management strategy, which has resulted in a decline in Pakistan’s public debt as a percentage of its gross domestic product and improved the government’s ability to service debt.

The proposed lending programme for the period includes 26 loans in various operational sectors. They include projects promoting improved public resource management, sustainable livelihoods, agricultural diversification, cleaner fuel, environmental improvement, road development, strengthened urban and social services, improved power distribution, and trade and exports.