ISLAMABAD: The government has decided to take a loan of $490 million fromthe Asian Development Bank (ADB) in order to fund the Karachi Bus RapidTransit (BRT) project.

Sources said that the Finance Division would table a summary in this regardduring the Central Developing Working Party (CDWP) meeting. Following theCDWP meeting, the matter would be placed in the meeting of ExecutiveCommittee of National Economic Council (ECNEC) for approval.

It is pertinent to mention that the federal and Sindh governments werediscussing the matter for the last five years but failed to strike anagreement with regard to taking a loan from the ADB for the project.

The finance ministry has now accorded an approval to the Economic AffairDivision and Sindh government, asking them to start negotiations with ADB.