Economic Affairs Division (EAD) and Asian Development Bank
(ADB) have signed two loan agreements for provision of US$ 180 million for
CAREC Corridor Development Investment Program and US$ 200 for Punjab
Intermediate Cities Improvement Investment Project.
ADB has committed to
provide US$ 800 million for financing infrastructure projects under the Central
Asia Regional Economic Cooperation (CAREC) Corridor Development Investment
Program. Under this program, ADB will provide US$ 180 million as first tranche
to National Highway Authority for improving road network along N-55. NHA will construct additional
2-lane carriageway of 66 Kms along the existing 2-lane of Petaro – Sehwan Road
and 43 Kms along the existing 2-lane of Ratodero – Shikarpur Road. It will also
help in rehabilitation of the existing 34 Kms 4-lane carriageway of Dara
Adamkhel –Peshawar Road. This would also provide due diligence advisory
services to NHA for preparing projects under subsequent tranches.
ADB will also provide US$ 200 million for Punjab
Intermediate Cities Improvement Investment Project. Under this project, the
Government of Punjab will improve urban services in Sahiwal and Sialkot cities.
It will help to improve water supply, sanitation & waste management system,
parks, footpaths, green belts and bus terminals. As a result quality of the
life of residents of these cities will improve by making them more livable and
sustainable.
The loan agreements were signed by Mr. Arif Ahmed Khan,
Secretary, Economic Affairs Division (EAD) and Ms. Xiaohong Yang, Country
Director, Asian Development Bank (ADB). The representatives of National Highway
Authority and Local Government & Community Development, Punjab also
attended the ceremony.
Speaking on the occasion, Mr. Arif Ahmed
Khan, Secretary EAD appreciated the ADB’s support for improving infrastructure
and urban services in Pakistan. He reiterated that the Government of Pakistan
is committed to improve regional connectivity by improving physical
infrastructure and economic cooperation. Further, Punjab Intermediate
Cities Improvement Investment Project will make Sahiwal and Sialkot more
livable and sustainable by providing state of the art urban services.
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