KARACHI, July 5: The Asian Development Bank (ABD) has passed $235 million loan package for Pakistan to develop Karachi’s Bus Rapid Transit project.
The project will deliver the 26.6 kilometers BRT Red Line and its associated facilities, which will benefit 1.5 million people, who live within a kilometer of the Red Line BRT station, a statement issued by the ADB on Friday said.
Over 300,000 passengers are expected on the Red Line BRT routes daily the bank statement further said. According to the statement, the bank said that it will “partially administer” two loans of $100 million each from the Asian Infrastructure Investment Bank and the Agence Française de Développement for the joint financing of the civil works of the project and its equipment costs.
A sustainable transportation system will not only solve the city’s mobility issue but also address its growing pollution problem, ADB Principal Urban Development Specialist (Transport) for Central and West Asia David Margonsztern was quoted as saying.
“The BRT system, with its innovative features, will address all these issues, improving the overall quality of lives of people in the city,” he added. – DNA
