ADB to provide $ 359 mln for Karachi Transport Bus Project, Secondary Education in Sindh
ISLAMABAD-Asian Development Bank will provide 359 million dollars to Pakistan for transportation infrastructure and education projects.
Signing ceremony to this effect was held in Islamabad today which was witnessed by Minister for Economic Affairs Makhdum Khusro Bakhtyar and Country Director ADB Ms. Xiaohong Yang.
Under the first project worth 284 million dollars, the ADB will give a loan of 235 million dollars while Green Climate Fund will provide 37.2 million dollars as loan and 11.8 million dollars as grant for Karachi Bus Rapid Transit. Karachi BRT aims at reducing overall traffic volume on the roads, improving the overall quality of air through reduced carbon emissions, and an innovative waste-to-fuel scheme for bettering public health and mitigating the effects of climate change on citizens.