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ADB approves $320mn for Khyber Pakhtunkhwa road rehabilitation

September 13, 2024
in Markets
ADB approves $320mn for Khyber Pakhtunkhwa road rehabilitation
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The Asian Development Bank (ADB) on Friday approved a $320-million loan to support the rehabilitation of roads in Khyber Pakhtunkhwa, enhancing safe and all-weather connectivity in rural areas.

As per a statement released by the ADB, the Khyber Pakhtunkhwa Rural Roads Development Project will upgrade around 900 kilometers of rural roads in the province that are susceptible to floods and are in poor condition.

“These cover key routes that link remote communities to education, health care, and markets. The project includes measures to incorporate climate-resilient design, road safety enhancement, and sustainable maintenance practices,” read the statement.

“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,” ADB Director General for Central and West Asia Yevgeniy Zhukov was quoted as saying.

“By providing better access to markets and services, we are empowering local communities and driving inclusive economic growth in one of Pakistan’s most underserved regions.”

ADB approves $400mn concessional loan for Sindh Emergency Housing Reconstruction Project

TheADB said the project will offer technical and financial support to assist the government in preparing long-term targeted interventions that will enhance the climate resilience and sustainability of the province’s road network.

ADB approves $250mn loan to boost public-private partnerships in Pakistan

“ADB will help the government conduct a comprehensive study on flood susceptibility, with a focus on landslide vulnerability across the province, to identify priority roads,” said ADB Senior Transport Specialist Seunghyun Kim.

“We will support the government in preparing concessional contracts for the operation and maintenance of two tourism roads, which will contribute to the sustainability of the road network.”

In its statement, the ADB added that annual rainfall and temperature patterns have significantly increased in parts of KPK, and the lack of resilient infrastructure escalated the impact of disasters on people and livelihoods.

Tags: ADBADB loanAsian Development BankFloods in PakistanKhyber pakhtunkhwaKhyber Pakhtunkhwa Rural Roads Development ProjectPakistan Economy
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