ADB approves $235m loan for Karachi bus rapid transit
Will administer two $100m loans to finance project’s civil works, equipment costsISLAMABAD: Pakistan will get a $575 million loan to build red line bus transit system in Karachi that will facilitate 300,000 commuters every day in the country’s largest metropolis. In 2016, when Pakistan got $9.7 million from ADB for project preparation, its total cost had been estimated at $220 million. The Karachi Bus Rapid Transit Red Line Project will deliver the 26.6-kilometre Bus Rapid Transit Line Red Line corridor and associated facilities benefiting as many as 1.5 million people (10% of Karachi’s population) who live within a kilometre of a Red Line BRT station, said a statement issued by the ADB. Over 300,000 passengers per day are expected on the Red Line BRT routes. ADB will also administer a $37.2 million loan and an $11.8 million grant from the Green Climate Fund (GCF).
Source: The Express Tribune July 06, 2019 04:18 UTC
