Islamabad: The French government will provide a soft loan of EUR 130 million for the Peshawar Sustainable Bus Rapid Transit (BRT) Corridor Project, a news source reported. The agreement for the credit facility has been finalised. Economic Affairs Division Secretary Noor Ahmed, Ambassador of France Marc Barety, and French Development Agency (AFD) Country Director Jacky Amprou signed it.
The National Economic Council Executive Committee had sanctioned the revised PC-1 of the project last year. The loan-facility agreement had been approved by the federal government as well.
AFD and Asian Development Bank have co-financed the project. The cost of the project, estimated at PKR 66.437, billion will be shared between the two agencies.
The project is expected to alleviate urban transportation issues in the city. It will provide a safe, efficient and comfortable user-friendly mass transit system. Plans to integrate it with existing transport facilities are also underway.
