Lahore: The Asian Infrastructure Investment Bank (AIIB) on Wednesday (September 07) agreed to provide a USD 1.6 million loan for the project readiness agreement of the Lahore Water and Wastewater Management Project, news sources reported.
In this regard, the federal government has signed a Memorandum of Understanding (MoU) with the AIIB. As per the MoU, the AIIB will complete the preparatory phase, which will be followed by the early signing and implementation of the main project that will include a sustainable supply of safe water and improvement of the existing sewerage system by providing new trunk sewers/conduits, reducing the deteriorating environmental impacts. According to the agreement, the government will hire two multinational project management companies (PMCs) to assist with engineering and design activities. The hired PMCs will be in charge of the following tasks:
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