Pakistan: Accelerating Economic Transformation Program (Subprogram 1)

Sovereign Project | 42163-013 Status: Closed

Summary

ADB is supporting Pakistan’s efforts to address harm done to poor families and the country's economy by unprecedented international food and fuel price hikes. The project will address price, fiscal, and structural distortions in agriculture and energy; promote value creation in industry, agriculture and services; and strengthen financial intermediation.

Latest Project Documents


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Project Name Accelerating Economic Transformation Program (Subprogram 1)
Project Number 42163-013
Country Pakistan
Project Status Closed
Project Type / Modality of Assistance Loan
Source of Funding / Amount
Loan 2446-PAK: Accelerating Economic Transformation Program (Subprogram 1)
Ordinary capital resources US$ 300.00 million
Loan 2447-PAK: Accelerating Economic Transformation Program (Subprogram 1)
Asian Development Fund US$ 200.00 million
Strategic Agendas Inclusive economic growth
Drivers of Change Governance and capacity development
Sector / Subsector

Public sector management - Economic affairs management

Gender Equity and Mainstreaming Some gender elements
Description The proposed AETP will help Pakistan achieve and sustain higher economic growth in the medium term.
Project Rationale and Linkage to Country/Regional Strategy
Impact The proposed AETP will help Pakistan achieve and sustain higher economic growth in the medium term.

Project Outcome

Description of Outcome The expected outcome of the Program is structural transformation of Pakistan's economy.
Progress Toward Outcome
Implementation Progress
Description of Project Outputs The expected outputs of the program are: (i) removal of price, fiscal and structural distortions in the agriculture and energy sectors in the short term, with the objective of resolving the present food and energy crisis and averting future crises; (ii) accelerated value creation in industry, agriculture and services through structural reforms, including greater private sector participation; and (iii) sound financial intermediation.
Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location Islamic Republic of Pakistan

Safeguard Categories

Environment C
Involuntary Resettlement C
Indigenous Peoples C

Summary of Environmental and Social Aspects

Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation

Business Opportunities

Consulting Services Not Applicable
Procurement The loan proceeds will be used to finance the foreign exchange cost of items produced and procured in ADB member countries, other than the items specified in the negative list of ineligible items and imports financed by other bilateral and multilateral sources. The proceeds of the program loan will be disbursed to Pakistan as the Borrower in accordance with the provisions of ADB's simplification of disbursement procedures and related requirements for program loans. Loan proceeds will be disbursed for a broad range of imports on the basis of a certificate provided by the Government stipulating that the value of the total imports of Pakistan, minus its imports from nonmember countries, ineligible imports, and imports financed under other official development assistance, is equal to or greater than the amount of the loan expected to be disbursed during a particular year. ADB reserves the right to audit the use of loan proceeds and verify the accuracy of the Government's certification.

Responsible Staff

Responsible ADB Officer Joao Pedro Farinha Fernandes
Responsible ADB Department Central and West Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, CWRD
Executing Agencies
Ministry of Finance
SO_ADB_I@EAD_CC.SDNPK.UNDP.ORG
Economic Affairs Div.
Rm. 308 Block "C" Secretariat Bldg
Islamabad, Pakistan

Timetable

Concept Clearance 10 Jun 2008
Fact Finding 08 May 2008 to 23 May 2008
MRM 10 Jun 2008
Approval 30 Sep 2008
Last Review Mission -
PDS Creation Date 03 Jun 2008
Last PDS Update 27 Oct 2008

Loan 2446-PAK

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
30 Sep 2008 30 Sep 2008 30 Sep 2008 31 Dec 2008 - 30 Sep 2008
Financing Plan Loan Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 300.00 Cumulative Contract Awards
ADB 300.00 30 Sep 2008 300.00 0.00 100%
Counterpart 0.00 Cumulative Disbursements
Cofinancing 0.00 30 Sep 2008 300.00 0.00 100%

Loan 2447-PAK

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
30 Sep 2008 30 Sep 2008 30 Sep 2008 31 Dec 2008 - 30 Sep 2008
Financing Plan Loan Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 200.00 Cumulative Contract Awards
ADB 200.00 30 Sep 2008 193.49 0.00 100%
Counterpart 0.00 Cumulative Disbursements
Cofinancing 0.00 30 Sep 2008 193.49 0.00 100%

Safeguard Documents See also: Safeguards

Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

None currently available.

Evaluation Documents See also: Independent Evaluation

None currently available.

Related Publications

None currently available.


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