ADB to be allotted plot in Red Zone, ISB

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ISLAMABAD: The Asian Development Bank will officially be allocated a plot on Shahrah-e-Jamhuriat in the Red Zone of the federal capital after the Prime Minister’s approval.

The plot to the international financial institution (IFI) will be allocated by the Capital Development Authority (CDA) after the Federal cabinet approved of the plan.

The CDA awaits the payment to be submitted by the ADB, after which an allotment letter will be issued accordingly.

The Asian Development Bank will construct a ground plus five storey country office building, with a basement for car parking on the allocated plot.

Even though CDA reserves all plots for specific buildings, the formal approval is granted by the Prime Minister of Pakistan for the commencement.  

Prior to this, a one-acre plot was earmarked by the CDA for the ADB in 2006. However, the IFI did not pursue approval.

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