ADB pro­vides $196m loan for high­ways

Pakistan Today (Karachi) - - BUSINESS -

Pakistan and Asian Devel­op­ment Bank (ADB) on Mon­day signed $196 mil­lion loan agree­ment for the post-flood na­tional high­ways re­ha­bil­i­ta­tion project. The loan agree­ment was signed by Eco­nomic Af­fairs Di­vi­sion Sec­re­tary Tariq Ba­jwa and ADB Coun­try Direc­tor Werner E Liepach. The total es­ti­mated cost of this project is $218.8 mil­lion, out of which the bank will pro­vide $196.9 mil­lion. The project will con­trib­ute to the eco­nomic re­cov­ery of flood-af­fected ar­eas in Khy­ber Pakhtunkhwa, Pun­jab, and Sindh. It will re­store crit­i­cal phys­i­cal in­fra­struc­ture to sus­tain liveli­hoods and ac­cess to mar­kets as well as build post­dis­as­ter traf­fic man­age­ment ca­pac­ity of the Na­tional High­way Author­ity (NHA). Un­der this project, NHA will re­ha­bil­i­tate 212 KM roads and 33 bridges of the na­tional high­ways net­work. The project will be com­pleted in 3 years. Speak­ing on the oc­ca­sion, EAD Sec­re­tary Ba­jwa thanked ADB for pro­vid­ing vi­tal sup­port for in­fra­struc­ture build­ing in Pakistan. Ba­jwa as­sured the com­mit­ment of the gov­ern­ment to mo­bi­lize all out ef­forts for tak­ing mea­sures to im­prove the phys­i­cal in­fra­struc­ture.

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