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ADB approves $335m loan for Peshawar bus project

byCT Report
01/07/2017
in Business
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ISLAMABAD: The project can be used as an opportunity to restructure the entire public transport industry – from minibus and Bedford bus, and from wagon and Suzuki to Qingqi, according to an environment assessment study of the project. PHOTO: TWITTER

The project can be used as an opportunity to restructure the entire public transport industry – from minibus and Bedford bus, and from wagon and Suzuki to Qingqi, according to an environment assessment study of the project.

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The Asian Development Bank (ADB) on Friday approved a $335 million loan for building a sustainable urban transport system in Peshawar through the creation of the city’s first integrated Bus Rapid Transit (BRT) corridor.

The board of directors of the Manila-based lending agency approved the loan for the construction of Khyber-Pakhtunkhwa’s first mass transit infrastructure at a total cost of $587 million.

In addition to the $335 million ADB loan, the K-P government – led by the Pakistan Tehreek-e-Insaf (PTI) will obtain two other loans from two European financial institutions.

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