In December 2006, the Asian Development Bank (ADB) approved a $900.0 million equivalent multitranche financing facility (MFF) for the Punjab Irrigated Agriculture Investment Program (PIAIP) to finance improvements to Punjab’s irrigation sector. At the same time, two loans for tranche 1 totaling $227.8 million equivalent were approved using the MFF for $217.8 million equivalent from ADB’s ordinary capital resources and $10.0 million equivalent from ADB’s Asian Development Fund (ADF).

Approved project 51423-002 in Mongolia.