Pakistan signs financing agreements for three development projects with ADB

Pakistan has signed financing agreements with the Asian Development Bank (ADB) for three important development projects. The agreements will provide additional financing of $10 million for ML-1 (Karachi-Rohri section), $3.8 million for Quetta Bus Rapid Transit (BRT) and $48 million for Balochistan Water Resources Development Project.

The agreements were signed by Secretary Economic Affairs Muhammad Karim, Secretary Railways Mazhar Ali Shah and Country Director Emma Fan on behalf of ADB.

On this occasion, the Secretary Economic Affairs said that Pakistan appreciates ADB’s continued support in development partnerships.
Emma Fane, while appreciating the development commitment of the Government of Pakistan, said that ADB will continue to cooperate with the country.

According to experts, projects like ML-1 and Quetta BRT will not only increase employment opportunities but also significantly increase economic activities, especially the improvement of transport infrastructure will benefit trade volume.