ISLAMABAD, June 20 (DNA): Makhdum Khusro Bakhtyar, Minister for Economic
Affairs witnessed the signing of two project agreements amounting to USD
359 million between the Government of Pakistan and the Asian Development
Bank at Ministry of Economic Affairs.
Noor Ahmed, Secretary, Economic Affairs Division and Ms. Xiaohong Yang,
Country Director, Asian Development Bank (ADB) signed a financing
agreement of USD$ 284 million for Karachi BRT Project (Red Line) between
the Government of Pakistan and the Asian Development Bank.
ADB has committed to provide USD 235 million as loan while Green Climate
Fund (GCF) will provide US$ 37.2 million as loan and US$ 11.8 million as
grant for this project. Karachi is Pakistan’s largest city and the
country’s primary financial and economic hub. Under this financing
agreement, the Government of Sindh will prioritize inclusive and
sustainable growth by improving the quality of life for its citizens.
The main objectives of the project are to reduce overall traffic volume
on the roads, thereby saving vehicle operating costs; improve the
overall quality of air through reduced carbon emissions; and an
innovative waste-to-fuel scheme for bettering public health and
mitigating the effects of climate change on citizens.
Economic Affairs Division and Asian Development Bank (ADB) also signed a
loan agreement of USD$ 75 million for “Sindh Secondary Education
Improvement Project.” Under this financing agreement, school
infrastructure, institutional capacity building and reforms in the
secondary education in the Province of Sindh will be strengthened.
The project will be implemented by Education & Literacy Department,
Government of Sindh, to construct new secondary school blocks in 10
districts across southern Sindh and improve the teaching capacity of
instructors in five (5) key subjects i.e. English, Mathematics, Biology,
Chemistry and Physics).
The project is aligned with, and will support the implementation of the
Sindh Education Sector Plan (2019 – 2023). Makhdum Khusro Bakhtyar,
Minister for Economic Affairs expressed his deep appreciation and
thanked the Asian Development Bank for their financial support towards
improving urban transport, traffic management and access to secondary
education in Pakistan.
The Minister reiterated the Government’s commitment to work tirelessly
towards achieving sustainable cities and communities, in line with the
Sustainable Development Goals and highlighted the importance of
promoting secondary education, especially for girls. It reflects the
federal government’s strong commitment to support all the provinces for
achieving inclusive growth and sustainable development, he added. Ms.
Xiaohong Yang, Country Director stated that ADB is one of the leading
development partners of Pakistan.
ADB is providing its support to Pakistan for policy reforms and project
financing in the key priority areas. ADB financial support will
strengthen Pakistan’s economy and reduce the risk of external economic
shocks, she added. DNA