Pakistan and Asian Development Bank (ADB) on Monday signed $196 million loan agreement for the post-flood national highways rehabilitation project.
The loan agreement was signed by Economic Affairs Division Secretary Tariq Bajwa and ADB Country Director Werner E Liepach. The total estimated cost of this project is $218.8 million, out of which the bank will provide $196.9 million.
The project will contribute to the economic recovery of flood-affected areas in Khyber Pakhtunkhwa, Punjab, and Sindh. It will restore critical physical infrastructure to sustain livelihoods and access to markets as well as build post-disaster traffic management capacity of the National Highway Authority (NHA). Under this project, NHA will rehabilitate 212 KM roads and 33 bridges of the national highways network. The project will be completed in 3 years.
Speaking on the occasion, EAD Secretary Bajwa thanked ADB for providing vital support for infrastructure building in Pakistan. Bajwa assured the commitment of the government to mobilize all out efforts for taking measures to improve the physical infrastructure.
