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