ADB loan to generate jobs from non farm sector in rural areas
16 Feb '06
2 min read
"International experience indicates that opportunities in rural competitiveness can be stimulated by access to a range of business development services," says Mr. Tayyab.
ADB's loan comes from its concessional Asian Development Fund, carrying a 32-year term, including a grace period of 8 years. Interest is charged at a rate of 1% per annum during the grace period, and 1.5% thereafter.
The Government will contribute $1.5 million toward the project's total estimated cost of $6.5 million. The Ministry of Industries, Production, and Special Initiatives is the executing agency for the project, which will be carried out over three years to December 2008.
Asian Development Bank, based in Manila, is dedicated to reducing poverty in the Asia and Pacific region through pro-poor sustainable economic growth, social development, and good governance.
Established in 1966, it is owned by 64 members - 46 from the region. In 2005, it approved loans and grants for projects totaling $6.95 billion, and technical assistance amounting to $198.8 million.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
