MANILA, PHILIPPINES : The Asian Development Bank has approved a $100 million loan for a highway project in Pakistan, marking its first co-financing with the China-led Asian Infrastructure Investment Bank. The Manila-based ADB announced Friday that AIIB will provide the loan subject to its board's approval later this month. The United Kingdom's Department of International Development is extending a $34 million grant, with ADB serving as lead financier and
administrator for the AIIB loan and the grant. AIIB is viewed by some as a rival to the U.S.-led World Bank and the Japan-led ADB, with suspicions China may use it to advance its economic and political interests. ADB President Takehiko Nakao called the co-financing ``a historic milestone'' for the ADB and AIIB as they work to meet Asia's pressing infrastructure needs.1. Government Job Information..... 2. How to Fill Forms..... 3. Notification of Exam Date..... 4. Best Study Materials..... 5. Result Announcements..... 6. Solved Papers..... i.e. Everything about Competitive Exams.....
Friday, 10 June 2016
Asian Development Bank approve 1st co-financing with China's AIIB for Pakistan road
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