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ADB Hands Over First $200 Million for Rebuilding Quake Survivors' Homes.
M2 PRESSWIRE-27 July 2007-Asian Development Bank: ADB Hands Over First $200 Million for Rebuilding Quake Survivors' Homes(C)1994-2007 M2 COMMUNICATIONS LTD
RDATE:25072007
ISLAMABAD, PAKISTAN - The Asian Development Bank (ADB) has released the first tranche of its new $400 million loan to the Government of Pakistan to help rebuild hundreds of thousands of homes lost in the October 2005 earthquake.
ADB is committed to helping the Government of Pakistan ensure that the coming winter is the last one in temporary shelter for many people displaced by the devastating earthquake.
The concessional loan, approved by the ADB Board of Directors in June, is part of ADB's one billion dollar commitment of loans and grants to assist Pakistan in the reconstruction and rehabilitation of earthquake-affected areas. It is being released in two tranches of $200 million each.
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