ADB provide $197M to Pakistan for Rehabilitation of Highways
Project will rehabilitate 212 kilometers of highway sections and 33 bridges damaged by 2010 floods.
ISLAMABAD (Online) - The Asian Development Bank (ADB) and Pakistan have signed an agreement 197 million loan to rebuild highways and bridges damaged by floods.
Tariq Bajwa, EAD Secretary and Werner E. Liepach, Country Director for ADB in Pakistan signed the agreement, said a press release issued on Tuesday.
“Pakistan is vulnerable to natural hazards and climate change events. ADB has been assisting the country improve its disaster management capacity. In addition to rehabilitation projects, ADB recently assisted Pakistan establish the National Disaster Risk Management Fund (NDRMF) strengthening country’s institutional, financial and physical capacity to reduce the socioeconomic and fiscal impacts of natural disasters” “said Werner
The project will rehabilitate 212 kilometers of highway sections and 33 bridges damaged by the 2010 floods restoring critical infrastructure and improving traffic management capacities to boost economic growth.
The loan will also help build institutional disaster management capacity of the National Highway Authority (NHA) by equipping the staff with necessary skills to respond pro-actively and effectively to meet challenges posed by recurring natural disasters.
The post-flood highways rehabilitation project is continuation of ADB’s efforts to revive economic and livelihood opportunities of communities affected by natural disasters, as Pakistan’s transport sector contributes about 10% to the country’s gross domestic product, and the sector as a whole makes up about 10% of the economy and provides about 2.3 million jobs.
The project, which includes counterpart assistance of $21.9 million from the Government of Pakistan, is expected to be completed by September 2020.
