“Road transport is both a lifeline to the people and a key component of socioeconomic development in Pakistan. This vital infrastructure project will reduce travel time, lower transportation costs, and increase access to economic opportunities for millions of residents in Khyber Pakhtunkhwa,” said ADB Director General for Central and West Asia Yevgeniy Zhukov.
ADB approves $320m grant for Pakistan
- By Web Desk -
- Oct 03, 2024
AA
ResizeThe Asian Development Bank (ADB) has approved a grant of $320 million to rehabilitate roads in Khyber-Pakhtunkhwa (KP).
Heavy monsoon rains from June to September have resulted in nearly 350 fatalities and hundreds of injuries in Pakistan, particularly in the K-P and Punjab provinces.
The K-P Rural Roads Development Project will utilise the approved funds to upgrade approximately 900 kilometres of flood-affected rural roads.
The Special Investment Facilitation Council (SIFC) will oversee the implementation of this project.
In December 2023, ADB approved three projects totalling $658.8 million aimed at enhancing Pakistan’s domestic resource mobilisation, rehabilitating schools damaged by the August 2022 floods, and boosting agricultural productivity to improve food security.
ADB has been actively engaged in various projects, including the K-P Cities Improvement Project.