Peshawar: The Khyber Pakhtunkhwa (KP) government has decided to obtain USD 500 million from the Asian Development Bank (ADB) for urban development programmes in several districts.
The financing will be utilised for development projects in DI-Khan, Bannu, Swat and other districts. In addition, the funds will us be used for construction of BRT feeder lines, Khyber Road, and to offer improved transportation services in Swat and Abbottabad.
The KP government has already applied for a USD 602 million loan for sanitation and sewage services in Peshawar, Kohat, Abbottabad, Swat, and Mardan. The division of various projects to be completed with the loan are as follows:
USD 200 million is being sought for the sanitation and sewage water projects in the upper tehsils of Swat and selected cities of the Hazara division in the project, including DI Khan and Bannu.
USD 200 million for the Bus Rapid Transport (BRT) programme for Abbottabad and Mingora planned in 2023
USD 100 million for the development of BRT Peshawar feeder routes including Khyber Road and warsak Road
Furthermore, after the loans are approved in 2023, the provincial government’s total debt would surpass USD 810 million, which is equivalent to PKR 127 billion. The provincial government has already prepared a PC-1 for the existing projects, and a second PC-1 will be issued if the financing for the additional projects are approved.
The loans are scheduled to be approved in 2024, following which the projects would be launched. Furthermore, the provincial administration hopes to reach an agreement on project ready finance by September 2021.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
