Pakistan: Accelerating Economic Transformation Program (Subprogram 2)

Sovereign Project | 42163-023 Status: Closed

Summary

ADB is supporting Pakistan’s efforts to improve macroeconomic stability and fiscal sustainability. The project will reduce short-term distortions in the agriculture and energy sectors while improving social safety net for the poor and vulnerable. It will also strengthen financial intermediation.

Latest Project Documents


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Project Name Accelerating Economic Transformation Program (Subprogram 2)
Project Number 42163-023
Country Pakistan
Project Status Closed
Project Type / Modality of Assistance Loan
Source of Funding / Amount
Loan 2524-PAK: Accelerating Economic Transformation Program (Subprogram 2)
Ordinary capital resources US$ 350.00 million
Loan 2525-PAK: Accelerating Economic Transformation Program (Subprogram 2)
Asian Development Fund US$ 150.00 million
Strategic Agendas Inclusive economic growth
Drivers of Change Governance and capacity development
Private sector development
Sector / Subsector

Energy - Energy sector development and institutional reform

Public sector management - Economic affairs management - Social protection initiatives

Gender Equity and Mainstreaming Effective gender mainstreaming
Description To restore the precrisis growth path.
Project Rationale and Linkage to Country/Regional Strategy
Impact Sustained high economic growth

Project Outcome

Description of Outcome Improved prospects for macroeconomic stability and fiscal sustainability
Progress Toward Outcome
Implementation Progress
Description of Project Outputs

A. Immediate distortions removed

1.Targeted safety net programs rolled out for the poor and vulnerable families

2. Market based wheat pricing

3. Past liabilities during FY2009, including all power subsidies, settled and debt restructuring plan implemented

B. Financial intermediation strengthened

4. Prudential regulation and supervision strengthened

Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location 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 Loan proceeds will be used to pay for items 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 in accordance with the provisions of ADB's simplification of disbursement procedures and related requirements for program loans. Loan proceeds disbursed against imports will require a certificate from 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 to verify the accuracy of the Government's certification.

Responsible Staff

Responsible ADB Officer Debra Kertzman
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 -
Fact Finding 24 Mar 2009 to 28 Mar 2009
MRM 15 Apr 2009
Approval 25 Jun 2009
Last Review Mission -
Last PDS Update 27 Oct 2008

Loan 2524-PAK

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
25 Jun 2009 26 Jun 2009 30 Jun 2009 31 Dec 2009 - 01 Jul 2009
Financing Plan Loan Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 350.00 Cumulative Contract Awards
ADB 350.00 25 Jun 2009 350.00 0.00 100%
Counterpart 0.00 Cumulative Disbursements
Cofinancing 0.00 25 Jun 2009 350.00 0.00 100%

Loan 2525-PAK

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
25 Jun 2009 26 Jun 2009 30 Jun 2009 31 Dec 2009 - 01 Jul 2009
Financing Plan Loan Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 150.00 Cumulative Contract Awards
ADB 150.00 25 Jun 2009 149.66 0.00 100%
Counterpart 0.00 Cumulative Disbursements
Cofinancing 0.00 25 Jun 2009 149.66 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

Title Document Type Document Date
Cash Transfer Programs for Poor Women in Pakistan Papers and Briefs Dec 2009

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