Asian Development Bank Approves Loan To Help Karachi
ADB approves $235 Million loan for development of Karachi's BRT
The Asian Development Bank (ABD) has approved a $235 million loan to develop Karachi’s Bus Rapid Transit project. ADB issued a press release on Friday said that the Karachi BRT Red Line project will deliver the 26.6 Km BRT Red Line and will benefit 1.5 Million individuals who live within 1 Km of the line. Every day over 300,000 passengers are expected on the routes. For equipment costs and civil works finance, two loans will be taken of $100 Million each from Asian Infrastructure Investment Bank and the Agence Française de Développement. According to ADB, the project will restructure the width of the entire Red Line BRT including construction of 29 stations, dedicated lanes, improvement of mixed-traffic roadway with up to six lanes in each direction, on-street parking inclusion and green areas in various locations, drainage system to climate-proof the corridor and installation of bicycle lanes, sidewalks and street lights as parts of non motorized transport infrastructure.
In addition to this ADB will administer a loan of $37.2 Million for the financing of bio gas plant and transition from basic diesel bus technology to compressed natural gas hybrid bus technology cost and a grant of $11.6 million from the Green Climate Fund (GCF) is taken for financing adaptation measures in climate.
