ISLAMABAD, Jan 2: The Asian Development Bank (ADB) has approved a technical assistance (TA) grant of $700,000 for the feasibility study of an Agribusiness Development Project.

The feasibility study includes detailed evaluation of the agri sector, propose strategies and formulation of specific intervention to develop agribusiness in Pakistan.

The TA would commence in May 2003 and be implemented over six months. The project was earmarked for financial assistance in 2004.

According to an announcement made by the local office of the ADB the TA would assist the government in designing a private sector-led agribusiness development project.

It said that the study would be carried out in two phases. The first phase would involve a detailed assessment of agribusiness sector’s potential and constraints.

Based on the findings of the first phase, the second phase would involve formulation of a specific project for agribusiness development. The project would be broad-based in order to provide maximum benefits to small farmers and enterprises, and promote private sector participation.