ADB to $45 million to boost social services in Punjab

MANILA: Punjab has received fresh funds of 45 million U.S. dollars equivalent to improve the delivery of health, education, water, and sanitation services in the region, the Asian Development Bank (ADB) said Tuesday.ADB's Board of Directors has approved the release of the third tranche of Punjab Devolved Social Services Program, the Manila-based lender said in a statement. A total of 25 million dollars comes from ADB's concessional Asian Development Fund and 15 million dollars from its ordinary capital resources. Co financing in the form of a 5-million-dollar grant is being provided by United Kingdom's Department for International Development. The first and second tranches of 80 million dollars and 55 million dollars equivalent were disbursed in December 2005 and November 2007, respectively.