PESHAWAR: The Khyber Pakhtunkhwa (KP) government has decided to borrow $500 million from the Asian Development Bank (ADB) for the second phase of urban development projects in the province. The KP government has formed a special committee headed by the Additional Chief Secretary to identify the development projects for the second phase of the urban development project. KP had already announced to borrow more than $600 million for urban development projects in Peshawar, Mardan, Kohat, Abbottabad, Swat, DI Khan and Bannu but now it has decided to borrow another $500 million for the second phase of the project. According to sources, the KP government has borrowed more than Rs300 billion from ADB and other international financial institutions in the last seven-year. The project for which the loan was obtained also includes the BRT project, power projects and projects recently launched for urban development.

Source: Pakistan Today September 18, 2021 13:52 UTC