Pakistan to become connecting hub for Afghanistan and Central Asia: ADB   

Pakistan to become connecting hub for Afghanistan and Central Asia: ADB   

ISLAMABAD: (APP) The Asian Development Bank will provide US $250 million for Central Asia Regional Economic Cooperation (CAREC) "Regional Improvement of border services project".

The signing ceremony was held here here at a local hotel after 15th CAREC ministerial conference.

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The agreement was signed by Secretary Economic Affairs Division (EAD) Tariq Bajwa and Werner E. Liepach County Director ADB for Pakistan.

Senator Mohammad Ishaq Dar, the Finance Minister and President ADB Takehiko Nakao witnessed the signing ceremony between the Government of Pakistan and Asian Development Bank (ADB).

Speaking on the occasion, the Finance Minister thanked ADB for providing support to Pakistan in the border management sector.

He assured Pakistan's commitment to mobilize all possible resources for improving and developing regional connectivity and linkages particularly with Afghanistan and Central Asian Region.

Furthermore he mentioned that Government of Pakistan was very much keen to enhance economic cooperation with Central Asia.

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The components of the project are; Development of physical infrastructure at border crossing points; provision of equipments (scanner, weigh-bridges etc); IT hardware and soft ware support- transition to single window system; Streamlining cross border procedures and capacity development.

The objectives of the project are; to adopt single window system for integrated and coordinated management of borders; increase trade and transit cargo through border crossing points; efficient cross border processing of goods and people and modernize border crossing points.