The Asian Development Bank (ADB) has approved a 800 million U.S. dollars multitranche financing facility (MFF) to help enhance regional connectivity and trade in the Central Asia Regional Economic Cooperation (CAREC) corridors in Pakistan, the bank said Tuesday.
The investment program will expand Pakistan's regional connectivity links while helping improve road traffic efficiency, a statement from the ADB's mission in Islamabad said.
Road networks in Sindh, Punjab, and Khyber Pakhtunkhwa provinces will be rehabilitated and upgraded with the MFF's first tranche, worth 180 million U.S. dollars in 2017.
The second and third tranches, worth 260 million U.S. dollars and 360 million U.S. dollars, respectively, are expected to be approved in 2019 and 2021.
"The investment program will help the government of Pakistan realize this potential, improve trade and connectivity in the CAREC corridors with the long-term goal of achieving inclusive growth and sustainable development in mind," said an ADB official.
The investment program will expand Pakistan's regional connectivity links while helping improve road traffic efficiency, a statement from the ADB's mission in Islamabad said.
Road networks in Sindh, Punjab, and Khyber Pakhtunkhwa provinces will be rehabilitated and upgraded with the MFF's first tranche, worth 180 million U.S. dollars in 2017.
The second and third tranches, worth 260 million U.S. dollars and 360 million U.S. dollars, respectively, are expected to be approved in 2019 and 2021.
"The investment program will help the government of Pakistan realize this potential, improve trade and connectivity in the CAREC corridors with the long-term goal of achieving inclusive growth and sustainable development in mind," said an ADB official.
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