PakistanTimes [PakistanTimes.net]

 Business

  Home  

 About Us

  Contact Us 

  Archives   

  Advertise
  Editorial Board  

 Free Subscription  

  Top Story

  Editorial

  Metro

  Kashmir

  Business

  Sports

  Scoop

  Societal

  Health

    Cartoon

 

ADB to Lend $ 187M to Pakistan
Pakistan Times Business Desk


MANILA (Philippines): The Asian Development Bank (ADB) said Monday it has approved about 187 million dollars in loans and grants to Pakistan for a road repair project that supports reconstruction in neighboring Afghanistan.

The project will improve and widen 247 kilometers (153 miles) of the national highway from Kalat to Quetta and between Quetta and Chamman, forming part of the Central Asia-Afghanistan-Pakistan transport corridor through Baluchistan.

A new cross-border facility into Afghanistan will be built at Chamman, an ADB statement said. "This is ADB's first road project in Pakistan that supports regional cooperation through physical improvements and capacity building," said Hans Carlsson, an ADB project specialist. "It recognizes that Pakistan -- and Baluchistan, in particular -- are geographically well-placed to play an increasing role in regional cooperation, linking landlocked Afghanistan and Central and South Asia more closely."

ADB will meet almost 70 percent of the 267.3 million-dollar project through a 185.7 million-dollar ordinary loan that matures in 25 years. The package also includes a one million-dollar technical assistance soft loan, plus a technical assistance grant of 500,000 dollars.

   
 
 
 
 

 

 

Discuss at PT Forum

 
 
 

FAOR Web Creations
Maintained by: 
FAOR Web Creations.

  

Home | About Us | Contact Us | Free Subscription | Advertise | Editorial Board | Archives

Copyright (c) 2003 TIMES Group of Publications All rights reserved.
Technical courtesy: IT Wizards