Karachi: The World Bank (WB) has decided to extend the deadline for the completion of USD 86 million Karachi Neighborhood Improvement Project (KNIP) till June 2023, news sources reported on November 13.
The deadline has been extended by the WB to complete the remaining activities of Component 1, in particular, Phase 2 and emergency works of KNIP. As per the report, KNIP’s Project Development Objective (PDO) is to enhance public spaces in targeted neighbourhoods of Karachi and improve the city’s capacity to provide selected administrative services. The project is expected to enhance the quality of life of an estimated 3.6 million people with infrastructure development projects designed to improve an estimated 170 hectares.
This is the second extension of its kind from WB in order to complete the project on time before the closing of the loan approval date. Previously, the project was delayed owing to the heavy monsoon, which caused urban flooding in a huge portion of the city.
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