ID :
168417
Tue, 03/15/2011 - 15:08
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Shortlink :
http://m.oananews.org//node/168417
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ADB's USD65m loan for energy saving plan in doubts- Alfalah Securities Limited
Karachi, March 15, 2011 (PPI): The government is likely to lose a USD 65 mn loan approved by Asian Development Bank (ADB) for an energy saving programme as it has failed to meet the targets set by the lender.
According to Alfalah Securities Limited, ADB approved financing of up to USD 40 mn from its ordinary capital resources and USD 25 mn equivalent from Agence Francaise de Development (AFD) for delivery of 30 mn incandescent bulbs with Compact Fluorescent Lamps (CFLs) to residents. The government is to contribute USD 20 mn for this project. The government asked the ADB for a flexible public sector financing mechanism to support energy efficiency in the short to medium term. A multi-tranche financing facility is considered the most appropriate modality for energy efficiency investments in Pakistan.
Market Outlook
Sell on strength.
According to Alfalah Securities Limited, ADB approved financing of up to USD 40 mn from its ordinary capital resources and USD 25 mn equivalent from Agence Francaise de Development (AFD) for delivery of 30 mn incandescent bulbs with Compact Fluorescent Lamps (CFLs) to residents. The government is to contribute USD 20 mn for this project. The government asked the ADB for a flexible public sector financing mechanism to support energy efficiency in the short to medium term. A multi-tranche financing facility is considered the most appropriate modality for energy efficiency investments in Pakistan.
Market Outlook
Sell on strength.
