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2019-11-27 India-Pakistan
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$787m loan agreements signed with World Bank
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[DAWN] Pakistain and the World Bank on Tuesday signed five loan agreements of $787 million for development projects, majority of them for Bloody Karachi
...formerly the capital of Pakistain, now merely its most important port and financial center. It is among the largest cities in the world, with a population of 18 million, most of whom hate each other and many of whom are armed and dangerous...
uplift.
The agreements were signed by Economic Affairs Division secretary Noor Ahmed, World Bank’s country director in Islamabad Patchamuthu Illangovan and the representatives of governments of Sindh and Khyber-Pakhtunkhwa and the National Transmission and Dispatch Company Ltd. Minister for Economic Affairs Hammad Azhar witnessed the signing ceremony.
The World Bank will provide $652m for three development projects in Karachi to support urban mobility, urban management and service delivery, improve water and sewerage services, tourism and power sectors.
The first loan of $382m was inked for Karachi Mobility (Yellow Line) Project that is expected to improve mobility, accessibility and safety along the yellow line Bus Rapid Transit (BRT) corridor in Karachi. The project will help to develop urban road infrastructure (Yellow Corridor), rehabilitation or reconstruction of road infrastructure along the yellow corridor, development and operationalisation of a BRT system and capacity building.
The Yellow BRT corridor was recently approved by the federal government with revised cost estimates of Rs61.436 billion. The Sindh government had proposed the Karachi Urban Mobility Project (Yellow Line Bus Rapid Transit) worth Rs65.968bn but the federal government had rationalised its cost estimates down to Rs61.4bn.
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Posted by Fred 2019-11-27 00:18||
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File under: Govt of Pakistan
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Posted by Dron66046 2019-11-27 10:45||
2019-11-27 10:45||
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