ISLAMABAD, Aug 16 (Reuters) The Asian Development Bank (ADB) expects to raise funding for Pakistan

ISLAMABAD, Aug 16 (Reuters) The Asian Development Bank (ADB) expects to raise funding for Pakistan to at least $6 billion over the next three years, to help economic reforms and bolster sustainable economic growth, a senior bank official said on Thursday.

The proposed financial support in loans and grants will increase annual funding to $2 billion during 2008-2010 from about $1.5 billion currently.

''Pakistan is in the league of fast-growing economies in Asia and the bank will do its best to ensure that growth continues,'' said Juan Miranda, ADB's Director General for Central West Asia, during a four day visit to the country.

Pakistan's economy grew by 7.0 percent in the fiscal year 2006-07 (June-July), having averaged the same for the previous three years.

Miranda said the bank planned to increase investment in infrastructure, utilities, agri-business and industry, and urban and rural services.

The bank is also supporting Pakistan's capital market reforms and approved a new $400 million loan last month to help the market play a stronger role in mobilising resources.

Miranda, however, said the country had a narrow exports base and need to diversify by expanding its industrial base.

Pakistan's exports, dominated by textiles, grew by 3.6 percent to $17.01 billion in fiscal year 2006-07 (July-June). It has set an export target of $19.2 billion for the 2007-08.

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