ISLAMABAD (MNN); Pakistan and the Asian Development Bank (ADB) on Friday signed financing agreements worth $61.8 million to advance three key development initiatives focused on rail connectivity, urban transport, and water resource management.
The funds include $10 million for Project Readiness Financing of the KarachiāRohri section of the Main Line-I railway project, $3.8 million for the Quetta Bus Rapid Transit (BRT) system, and $48 million as additional financing for the Balochistan Water Resources Development Sector Project.
The Secretary of the Ministry of Economic Affairs lauded ADB as a reliable development partner, noting its continued support for projects that will promote long-term economic growth, improve urban infrastructure in Quetta, and enhance agricultural productivity across Balochistan.
He further appreciated the role of the Ministry of Railways and the Balochistan government, urging swift and efficient use of the allocated funds to ensure timely execution of the projects.
ADB Country Director Emma Fan welcomed the signing of the agreements, stressing the importance of the Balochistan-focused initiatives and describing the ML-I Project Readiness Financing as a crucial step toward upgrading Pakistanās railway network.
She reiterated ADBās dedication to collaborating closely with the government to ensure that its assistance remains aligned with Pakistanās development goals.
